Civil Plaintiff
13 Banks Agree to a $91 Million Settlement in a Singapore Rate Case
Thirteen banks have agreed to pay $91 million to resolve civil antitrust claims that they participated in a conspiracy to rig benchmark Singapore interest rates, adding to a settlement with six other financial institutions and pushing the total deals amount to more than $155 million.
Plaintiffs lawyers representing investment funds that sued the banks said in the latest proposed settlement on May 27 that banks including Bank of America NA, Barclays Bank Plc, BNP Paribas SA and UBS AG had agreed to resolve claims.
Earlier settling defendants included Credit Suisse AG, Deutsche Bank AG, The Hongkong and Shanghai Banking Corp Ltd, ING Bank NV, Citibank NA and JPMorgan Chase & Co.
