STEVE INSKEEP, HOST: NPR's business news begins with a global bank settlement.</s>STEVE INSKEEP, HOST: It's the big Swiss bank, UBS. It announced this morning that it will pay a total of $1.5 billion in fines for its role in rigging the interbank lending rate known as LIBOR. The settlement will be paid to Swiss, British and American regulators.</s>STEVE INSKEEP, HOST: Now, a branch of UBS in Japan is also pleading guilty to a charge of wire fraud as part of this investigation. It's the first time a big name bank has agreed to criminal charges in years.
UBS has agreed to pay some $1.5 billion in fines to international regulators following a probe into the rigging of a key global interest rate. UBS became the second bank, after Britain's Barclays PLC, to settle over the rate-rigging scandal.