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Rabobank Fined $1.1 Billion Over Libor, Euribor Rigging

Rabobank Groep, the co-operative formed in 1898 to lend to Dutch farmers, was fined 774 million euros ($1.1 billion) and the chairman resigned as the scandal over the rigging of benchmark interest rates ensnared a fifth firm.

The fines by the U.S. Commodity Futures Trading Commission, the Department of Justice, the U.K. Financial Conduct Authority and the Dutch public prosecutor’s office bring the total settlements in the rate-rigging probe to $3.7 billion.