Dutch Rabobank fined €774m over Libor scandal

GMT 13:05 2013 Tuesday ,29 October

Arab Today, arab today Dutch Rabobank fined €774m over Libor scandal

Arab Today

Dutch bank Rabobank said on Tuesday it had agreed to pay a 774-million euro fine for its role in the Libor rate-fixing scandal, and that its top executive had lost his job. "Rabobank has entered into settlements with various authorities and agreed to pay 774 million euros ($1.0 billion)," a statement said, adding that group chairman Piet Moerland had resigned with immediate effect.

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