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UBS to Plead Guilty on Libor, Settle Currency Probe With Fed

Bank will pay $545 million in fines.

By Jeffrey Voegeli and Elena Logutenkova, Bloomberg | Updated on May 20, 2015

UBS Group AG will pay $545 million to settle U.S. investigations into its role in manipulating currency and interest rates, removing two of the bank’s biggest legal hurdles.

The lender’s main unit, UBS AG, will plead guilty to fraud for manipulating benchmark interest rates and pay $203 million in fines after the Swiss bank violated an agreement that had allowed it to avoid prosecution, UBS said in a statement Wednesday.

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