Three banks to be fined €90M for Swiss LIBOR rigging

FXStreet (Łódź) - The European Commission announced on Tuesday its decision to fine UBS, JP Morgan and Credit Suisse for rigging Libor rates connected with the Swiss franc.

The collective fine amounts to 90 million euros with JP Morgan obliged to pay the biggest sum of 70 million euros.

Royal Bank of Scotland, which notified the European Commission about the manipulation, avoided punishment for its own involvement.