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EU regulators to fine 5 banks for rate rigging - source

Tuesday, 3 Dec 2013 | 2:16 PM ET

BRUSSELS, Dec 3 (Reuters) - European Union antitrust regulators will fine five banks including Citigroup and Deutsche Bank for rigging yen Libor and Tibor interest rate benchmarks, a person familiar with the matter said on Tuesday.

The person said the other banks facing sanctions include Royal Bank of Scotland, JPMorgan and Barclays . UBS alerted the wrongdoing to the European Commission and will not be penalised.

The EU competition authority is expected to announce the fines for rigging Libor, Tibor and Euribor on Wednesday, a second person said.

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