Citibank N.A. agreed to pay $425 million to end long-running civil probes into the bank’s alleged manipulation of key benchmarks, becoming the first U.S. bank to resolve claims related to the Libor benchmark.
The bank agreed to pay $250 million to resolve claims from the Commodity Futures Trading Commission that it attempted to manipulate the ISDAFIX benchmark swaps rate, and an additional $175 million to resolve claims from the regulator that it tried to rig the Yen Libor and Euroyen Tibor interest rate benchmarks.
