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Lloyds to pay LIBOR-rigging penalty
The Department of Justice has announced that Lloyds Banking Group plc has entered into an agreement with the Department of Justice to pay an $86 million penalty for manipulation of submissions for the London InterBank Offered Rate (LIBOR), a leading global benchmark interest rate. Lloyds has also agreed to admit and accept responsibility for its misconduct, and to continue cooperating with the Department in its investigation.