HSBC, UBS settle U.S. rate-rigging litigation; total payout tops $408 million

NEW YORK (Reuters) - HSBC Holdings Plc and UBS Group AG have each agreed to pay $14 million to settle private U.S. litigation accusing them of rigging an interest rate benchmark used in the $483 trillion derivatives market.

HSBC, UBS settle U.S. rate-rigging litigation; total payout tops $408 million
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