Probably a huge sigh of relief.
Citigroup said the U.S. Department of Justice declined to prosecute the bank after a probe into rigging of the London Interbank Offered Rate.
Bloomberg News reports that the U.S. has advised the bank that it made the decision 'based on the facts and circumstances as the Department of Justice currently understands them', Citigroup said Monday in a regulatory filing. Authorities 'decided to decline prosecution with respect to Libor', Citigroup said.
Deutsche Bank was ordered last month to pay a record $2.5bn fine and fire seven employees to settle U.S. and U.K. investigations into the case.
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