WASHINGTON - The British financial giant Barclays Bank PLC on Monday entered into a $100 million settlement with 44 US states over interest rate manipulation during and before the financial crisis. Barclays in 2012 pleaded guilty to rate manipulation and agreed to pay $453 million to British and US authorities. British and US authorities have since 2012 taken action against a series of banks, including Barclays, UBS and Deutsche Bank, over alleged rate manipulation. But Monday's is the first settlement with US states by a bank on the panel that sets the US dollar Libor rates, the statement said, adding that investigations were ongoing. "As a result of Barclays misconduct, government entities and not-for-profits were defrauded of funds that otherwise could have been used to benefit the people of New York," Schneiderman said in a statement.

Source: Bangkok Post August 08, 2016 18:45 UTC