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Citigroup to Pay $425 Million to Resolve ISDAfix Allegations

CFTC claims bank attempted to manipulated the benchmark multiple times from 2007 to 2012

By Matt Robinson and Matthew Leising, Bloomberg | Updated on May 25, 2016

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.

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