HSBC, UBS settle U.S. rate-rigging litigation; total payout tops $408 million

NEW YORK (Reuters) - HSBC Holdings Plc and UBS Group AG have each agreed to pay $14 million (11 million pounds) to settle private U.S. litigation accusing them of rigging an interest rate benchmark used in the $483 trillion derivatives market.

from Reuters: Top News http://uk.reuters.com/article/uk-banks-rigging-settlement-idUKKBN19W27O?feedType=RSS&feedName=topNews