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The Boston Globe

Business

UBS to pay $1.5 billion over rate-rigging scandal

GENEVA — The Swiss bank UBS agreed Wednesday to pay $1.5 billion in fines for trying to manipulate a key interest rate that affects borrowers around the world.

The settlement was with US, British, and Swiss regulators. The fine against UBS, which will also see two former traders charged with conspiracy, is triple the amount that the British bank Barclays PLC agreed to pay in June to settle similar charges.

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