Penalties relate to alleged manipulation of Libor rates, transactions involving Libyan counterparts

Societe Generale expects to pay roughly €1.2b ($1.39bn) in penalties to settle an outstanding dispute with US authorities over transactions that involve countries subject to sanctions.

The French bank said Monday that it “has entered into a phase of more active discussions” with US authorities over the issue and that an agreement may come in the next weeks.

SocGen to pay around $1.4bn in penalties tied to US sanctions

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