Deutsche Bank AG and JPMorgan Chase & Co. agreed to pay a combined $148 million to resolve claims that they conspired to manipulate the benchmark yen Libor rate and said they will cooperate with investors suing other banks.
Investors including Sonterra Capital Master Fund, Hayman Capital Management and the California State Teachers' Retirement System sued 21 banks and three brokerage firms in federal court in New York in July 2015, accusing them of manipulating the rate from 2006 to 2011.
Deutsche Bank will pay $77 million and JPMorgan $71 million under the settlements, which were outlined in court documents filed late Friday. Neither company admitted wrongdoing under the agreements, which must still be approved by a judge.
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