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Such a penalty would be more than double the $450 million fine levied on British bank Barclays (BARC.L) in June by U.S. and British regulators and would be the third massive U.S. fine to hit big European banks this week.
"The global settlement is about $1 billion," the source said. "It's expected early next week - on Monday or Tuesday."
Barclays was the first - and so far only - bank to settle charges of rigging the London interbank offered rate, known as Libor, a benchmark used for trillions of dollars worth of loans around the world. Tiny shifts in the rate, compiled from daily polls of bankers, could benefit dealers in complex products. Read More