Citigroup to pay $425 mn for benchmark probe
Citigroup will pay $425 million to resolve US Commodity Futures Trading Commission claims that the bank attempted to manipulate global benchmarks for interest-rate products multiple times from 2007-2012. The company will pay $250 million over allegations tied to ISDAfix, a global interest-rate benchmark used by banks, and $175 million for alleged abuses linked to the London Interbank offered rate.