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The US Commodity Futures Trading Commission (CFTC) has issued its latest order against multiple entities, settling charges with Citibank affiliates for its abuses of the London Interbank Offered Rate (LIBOR) as well as the Euroyen Tokyo Interbank Offered Rate (Euroyen TIBOR) benchmarks – the joint settlement was reached at $175 million, according to a CFTC statement.
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Citibank was under fire by the CFTC following earlier allegations and eventual charges that focused on the manipulation of LIBOR and Euroyen TIBOR rates. ... (read more)