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Factbox: Details of banks' EU fines for Euribor, Yen/Libor cartels

(Reuters) - The European Commission on Wednesday fined eight financial firms a total of 1.7 billion euros ($2.3 billion) for allegedly participating in illegal cartels related to benchmark interest rates.

Four of the eight banks participated in a cartel based on Euribor rates, the European Commission said. Proceedings were opened into Euribor-setting at three other banks who have not yet settled.

Six of the eight banks that settled paid participated in cartels related to Japanese yen Libor rates. Proceedings were also opened against broker Icap, which has not settled.

Here are details of the fines handed to the institutions, and the banks whose proceedings are still open.


The Commission said the cartel operated between September 2005 and May 2008.

It said Barclays will not be fined as it revealed the existence of the cartel to the Commission.

Banks to settle:

Barclays - Fine 0

- Participated for: 32 months

Deutsche Bank - Fine 466 million euros

- Participated for: 32 months

Societe Generale - Fine 446 million euros

- Participated for: 26 months

RBS - Fine 131 million euros

- Participated for: 8 months

Banks that the Commission has opened proceedings against who have not settled


Credit Agricole



The Commission said it uncovered seven distinct bilateral infringements lasting between 1 and 10 months in the period from 2007 to 2010.

It said the collusion included discussions between traders of the participating institutions on certain Yen Libor submissions.

It said UBS received full immunity for revealing to the Commission the existence of the infringements.

Firms to settle:

UBS - Fine 0

- 5 infringements

RBS - Fine 260 million euros

- 3 infringements

Deutsche Bank - Fine 259 million euros

- 2 infringements

JPMorgan - Fine 80 million euros

- 1 infringement

Citigroup - Fine 70 million euros

- 3 infringements

RP Martin - 0.2 million euros

- 1 infringement

Institutions that the Commission has opened proceedings against who have not settled


($1 = 0.7360 euros)

(Compiled by Steve Slater, Editing by Laura Noonan)