On Air Now

Listen

Listen Live Now » 106.1 FM Lansing, Michigan

Weather

Current Conditions(Holt,MI 48842)

More Weather »
67° Feels Like: 67°
Wind: SW 5 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

PM Thunderstorms 84°

Tonight

Scattered Thunderstorms 67°

Tomorrow

Mostly Sunny 79°

Alerts

EU seeking to settle with banks in Euribor, Libor cases by year-end

European Union (EU) Competition Commissioner Joaquin Almunia holds a news conference at the EU Commission headquarters in Brussels March 6,
European Union (EU) Competition Commissioner Joaquin Almunia holds a news conference at the EU Commission headquarters in Brussels March 6,

(Reuters) - EU regulators are seeking to settle with a group of banks under investigation for suspected rigging of lending benchmarks Euribor and Libor in a procedure which includes lower fines in return for admission of wrongdoing, the EU's antitrust chief said on Monday.

"We are trying to follow the Article 9 route. We hope we are ready to adopt a decision towards the end of the year," EU Competition Commissioner Joaquin Almunia told a news briefing, referring to antitrust rules.

Almunia said some of the banks charged in a credit derivatives investigation on Monday were also involved in the Euribor and Libor cases.

(Reporting by Foo Yun Chee; editing by Robin Emmott)

Comments