New York Attorney General Eric T. Schneiderman Announces $100 Million Multi-State Settlement With Barclays Over Role Artificially Manipulating Interest Rates - Manipulated Interest Rates Hurt Government And Not-For-Profit Entities In New York And Across The Country

Attorney General Eric T. Schneiderman today announced a $100 million, 44-state settlement with Barclays Bank PLC and Barclays Capital Inc. for fraudulent and anticompetitive conduct involving the manipulation of U.S. Dollar (USD) LIBOR (the London Interbank Offered Rate) and other benchmark interest rates. Benchmark interest rates affect financial instruments worth trillions of dollars and have a widespread impact on global markets and consumers because LIBOR may determine how much they will be paid on their investments. New York and Connecticut led the working group of State Attorneys General investigating Barclays.