June 4, 2018 / 5:12 PM / a year ago

CFTC orders French bank Societe Generale to pay $475 million penalty

The logo of Societe Generale is pictured outside the headquarters of the French bank at the financial and business district of La Defense at Puteaux near Paris, outside Paris, France, May 16, 2018. REUTERS/Charles Platiau

WASHINGTON (Reuters) - The U.S. Commodity Futures Trading Commission on Monday ordered French bank Société Générale SA (SOGN.PA) to pay a $475 million penalty to resolve charges it manipulated the London Interbank Offered Rate, or LIBOR, and the Euro Interbank Offered Rate, or Euribor.

The action was part of a larger $860 million settlement to resolve criminal charges in the United States and France against the Paris-based bank.

Reporting by David Alexander; Editing by Eric Walsh

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