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Australia's NAB to settle U.S. bank bill swap rate class action - Metro US

Australia’s NAB to settle U.S. bank bill swap rate class action

FILE PHOTO: The National Australia Bank Logo is seen on a branch in central Sydney

(Reuters) – National Australia Bank Ltd said on Friday it has agreed to settle a 2016 class action lawsuit in the United States over alleged manipulation of a key short-term interest rate.

The terms of settlement in the bank bill swap rate lawsuit are confidential and without any admission of liability, Australia’s third largest bank said. (https://bit.ly/35yyemo)

(Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Shounak Dasgupta)

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