The fines at Citi keep coming CFTC orders Citigroup Fine $250m For Benchmark Manipulation.
By Eric On Friday,
The U.S. commodity Futures trading Commission (CFTC), it’s printed another order against recent time Citibank that CFTC orders Citigroup Fine $250m.
The most recent fine comes as a result of the manipulation of connected charges with to the USD ISDAFIX – US dollar International Swaps and Derivatives Association Fix. It is really the second fine issued against him by the CTFC Citibank. About Citigroup Fine, the present fine expects Citi to pay 250 million dollars in civil monetary penalties. This purpose emerges from a period of 5 years (January 2007 – January 2012) during which Citibank tried to control and created false reports about the USD ISDAFIX, a benchmark used globally for products at the rate of interest. The CTFC discovered that Citibank traders had made the try on various occasions to control the USD ISDAFIX swap rate by changing their submissions of USD ISDAFIX.