Citigroup Inc. will pay $425 million to resolve U.S. Commodity Futures Trading Commission claims that the bank attempted to manipulate global benchmarks for interest-rate products multiple times from 2007 to 2012.
The CFTC announced two settlements Wednesday with New York-based Citigroup over allegations involving the ISDAfix, as well as London and Tokyo benchmarks.
Citigroup will pay $250 million over allegations tied to ISDAfix, a global interest-rate benchmark used by banks, and $175 million for alleged abuses linked to the London Interbank offered rate, the regulator said in two separate statements.
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