Barclays has agreed to pay $94m to settle a US anti-trust litigation in which investors accused 11 banks of conspiring to manipulate the benchmark Euribor and related derivatives; Barclays is the first of the defendants to settle. Euribor is the euro-denominated equivalent to Libor, a benchmark for setting rates on hundreds of trillions of dollars of debt, including for credit cards, student loans and mortgages. The settlement will be paid out over four years, with an option for another year if it meets certain performance targets.
Barclays has agreed to pay $94m to settle a US anti-trust litigation in which investors accused 11 banks of conspiring to manipulate the benchmark Euribor and related derivatives; Barclays is the first of the defendants to settle. The settlement will be paid out over four years, with an option for another year if it meets certain performance targets.