By Ian Walker
Lloyds Banking Group PLC said Friday it is in late-stage
settlement talks with a number of agencies over the potential
rigging of Interbank Offered Rates and other benchmarks.
Responding to media reports, the 24.9% government-owned bank
said the settlements remain to be agreed, and that it expects them
to include penalty payments.
The Financial Times reported Thursday that Lloyds is expected to
pay up to GBP300 million to regulators in the U.K. and U.S. over
allegations it manipulated a key interest rate benchmark.
An announcement from the bank, accused of manipulating the
London interbank offered rate, or Libor, is expected to come before
it discloses six-month financial results on Thursday, the FT
reported. The report didn't break down the amount of payments to
each country's regulator.
Write to Ian Walker at ian.walker@wsj.com
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