EU antitrust regulators fined six financial institutions a record 1.7 billion euros ($2.3 billion) on Wednesday for rigging financial benchmarks.
That takes fines handed to banks for alleged manipulation of Libor and other benchmark rates to almost $6 billion.
Top banks have been handed hefty fines in the last two years for a range of misconduct issues, including Libor manipulation,
losses on complex derivatives trading and breaking trade sanctions.
Following are fines imposed on leading banks.
YEAR BANK FINE REASON REGULATOR
(millions of dollars)
2013 JPMorgan 13,000 US mortgage mis-selling DOJ/FHFA
2013 Six firms 2,300 Interest rate cartels EC
Inc: Deutsche 985
2012 HSBC 1,920 Money laundering lapses DOJ
2012 UBS 1,500 Libor manipulation FSA/DOJ
2013 Rabobank 1,070 Libor manipulation FCA/CFTC
2013 JP Morgan 1,020 Whale trading scandal SEC/FCA/MORE
2013 UBS 955 US mortgage mis-selling FHFA
2009 UBS 780 Aiding tax fraud DOJ
2012 StanChart 667 Anti sanctions OFAC/DOJ/MORE
2012 ING 619 Anti sanctions OFAC
2013 RBS 612 Libor manipulation DOJ/CFTC/FSA
2010 Goldman 550 Misleading investors FSA/SEC
2009 C.Suisse 536 Anti sanctions OFAC
2010 ABN Amro 500 Anti sanctions OFAC
2012 Barclays 451 Libor manipulation DOJ/CFTC/FSA
2009 Lloyds 350 Anti sanctions OFAC/DOJ
2013 Goldman 330 Foreclosure issues FED
2010 Barclays 298 Anti sanctions DOJ/OFAC
2012 JP Morgan 297 RMBS offering SEC
2013 JP Morgan 285 Power market manipulation FERC
2011 Citi 285 Misleading CDO investors SEC
2011 JP Morgan 228 Muni bond rigging SEC
2013 M. Stanley 227 Foreclosure issues FED
2011 UBS 160 Muni bond rigging SEC
2011 JP Morgan 154 Misleading investors SEC
2010 BofA 150 Disclosing Merrill bonuses SEC
2011 Wachovia 148 Muni bond rigging SEC
2010 BofA 137 Muni bond rigging SEC
2003 JP Morgan 135 Enron SEC
2012 Mizuho 128 Misleading CDO investors SEC
2013 Garanti 108 Interest rates collusion CB
2013 JP Morgan 100 Whale trading scandal CFTC
GUIDE TO MAJOR BANKING SCANDALS:
Libor - The suspected rigging of the London interbank offered rate (Libor), an interest rate used in contracts worth trillions of dollars globally.
Anti sanctions - Illegally hiding transactions with Iran and other countries, violating US sanctions.
Muni bond rigging - Conspiring to deceive US cities and towns by operating a scheme to rig bids to invest municipal bond proceeds.
CDO - Collateralized debt obligations tied to the US housing market
RMBS offering - Misleading investors in the sale of risky mortgage bonds or residential mortgage-backed securities.
Enron - JP Morgan was fined for its role in the defunct Enron Corp's manipulation of its financial statements.
Merrill - Bank of America was fined for failing to properly disclose employee bonuses and financial losses at Merrill Lynch before shareholders approved the companies' merger in 2008.
NOTES: DOJ - US Department of Justice
OFAC - US Office of Foreign Assets Control
FERC - Federal Energy Regulatory Commission
FSA - UK Financial Services Authority**
** FSA has become FCA
FCA - UK Financial Conduct Authority
SEC - US Securities and Exchange Commission
FHFA - Federal Housing Finance Agency
EC - European Commission
CB - Turkey's Competition Board
FED - Federal Reserve
CFTC - US Commodity Futures Trading Commission - Reuters