Bloomberg News

Libor Fines to Exceed $452 Million for Barclays Rivals, Sky Says

July 15, 2012

Fines for fixing the London interbank offered rate will probably be more than 290 million pounds ($452 million) for some of the other banks involved, Sky News reported, citing a Barclays e-mail to staff sent July 13.

“As other banks settle with authorities, and their details become public, and various governments’ inquiries shed more light, our situation will eventually be put in perspective,” the internal memorandum, co-authored by Barclays Chairman Marcus Agius, said, according to the website.

About 15 other lenders, including Lloyds Banking Group Plc (LLOY) and Royal Bank of Scotland Group Plc are under investigation, Sky reported.

Simon Eaton, a London-based spokesman for Barclays, declined to comment when reached by phone today.

To contact the reporter on this story: Emma Charlton in London at echarlton1@bloomberg.net

To contact the editor responsible for this story: Dick Schumacher at dschumacher@bloomberg.net


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