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Five global banks to plead guilty, pay $5.7 bln on rate rigging

Reuters - UK Focus

NEW YORK/WASHINGTON, May 20 (Reuters) - Authorities fined five of the world's largest banks, including JPMorgan Chase & Co (Xetra: 850628 - news) and Citigroup (NYSE: C - news) , roughly $5.7 billion and four of them agreed to plead guilty to U.S. criminal charges over manipulation of foreign exchange rates, the U.S. Department of Justice said on Wednesday.

The fifth bank, UBS AG (NYSEArca: FBGX - news) , will plead guilty to rigging benchmark interest rates, the Justice Department said.

(Reporting by Karen Freifeld and Lindsay Dunsmuir; Editing by Soyoung Kim and Jeffrey Benkoe)