Reuters ZURICH |
Commentary: What happened yesterday while all were busy with another story. Convenient or planned timing for this announcement?
The UBS logo is seen at the UBS 40th Annual Global Media and Communications Conference in New York, December 5, 2012.
Credit: Reuters/Carlo Allegri
(Reuters) - UBS (UBSN.VX) faces a fine of 1.5 billion Swiss francs ($1.63 billion) to settle interest rate rigging charges, a Swiss newspaper reported on Saturday.
Citing unnamed sources, Tages-Anzeiger daily said the bank would admit 36 traders around the globe manipulated yen Libor between 2005 and 2010. A UBS spokesman declined to comment.
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