EU fines six banks record 1.7 bn euros for rate fixing
World BusinessDec 4, 2013
(AFP) -- The European Union fined six finance groups a record 1.7 billion euros ($2.3 billion) on Wednesday for rigging the Euribor and Japanese yen Tibor interest rates.German Deutsche Bank, involved in rigging both rates, was fined a total of 725 million euros, and French Societe Generale was fined 446 million euros for manipulating the European Euribor rate.British bank RBS, already mired in controversy, was fined 391 million euros for involvement in cartels which rigged both rates.The Europe