Deutsche Bank, JPMorgan to pay $148 million to end yen Libor cases in U.S.

Deutsche Bank AG and JPMorgan Chase & Co have agreed to pay a combined $148 million (114 million pounds) to end private U.S. antitrust litigation claiming they conspired with other banks to manipulate the yen Libor and Euroyen Tibor benchmark interest rates.

The preliminary settlements, totalling $77 million for Deutsche Bank and $71 million for JPMorgan, were detailed in filings late Friday in the U.S. District Court in Manhattan, and require a judge’s approval.

They followed similar settlements last year with Citigroup Inc and HSBC Holdings Plc totalling $23 million and $35 million, respectively.

Read on.

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