Libor manipulation lawsuits could cost banks ‘tens of billions’

Barclays' $450m settlement gives lawyers smoking gun evidence of attempts to tamper with benchmark rates

Barclays headquarters, London

Evidence that Barclays attempted to manipulate benchmark Libor and Euribor interbank lending rates could result in tens of billions of dollars in fines and penalties across the dealer community, as the victory prospects for a series of civil lawsuits received a boost in the wake of the bank's settlement with regulators in the UK and US.

"Things have changed dramatically in the past two hours," said the co-lead counsel for one of those lawsuits, speaking shortly after the settlement had been

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