According to rumors, UBS is on the verge of reaching an agreement with the American and British authorities for the payment of a fine of over 450 million dollars, in order to close the ongoing investigation into the Libor scandal, which sees the financial company under investigation for manipulations of the interbank rate between 2005 and 2009. The rumors, reported by the New York Times, have not received official confirmation.
UBS isn't the only major bank involved in the Libor rate scandal. Among others, at the moment, only Barclays has admitted its responsibility, already negotiating a fine of 450 million dollars in June.
