Another major bank is reportedly nearing a huge payout to settle government investigations into rigging of key interest rates.
Swiss banking giant UBS is set to fork over more than $450 million to settle claims it manipulated the London Inter-bank Offered Rate, or Libor, according to the Wall Street Journal.
The British bank Barclays agreed to pay $453 million to American and British authorities to settle similar charges earlier this year. The fallout included a major shakeup that saw the departures of the bank's chairman and chief executive.
Libor is a key benchmark rate used by the global financial industry to price trillions of dollars worth of consumer loans, such as mortgages, and other products, such as derivatives.