NEW YORK, Nov 13 (Reuters) - Barclays Plc hasreached a $120 million settlement of private U.S. litigationaccusing the British bank and rivals of conspiring to rig thebenchmark interest rate known as Libor, a law firm for theplaintiffs said on Friday.
A spokesman for Barclays declined to comment.
Libor, or the London Interbank Offered Rate, underpinshundreds of trillions of dollars of transactions. It is used toset rates on credit cards, student loans and mortgages, and todetermine the cost for banks to borrow from each other. (Reporting by Jonathan Stempel in New York; Editing by ChrisReese)
Barclays (BARC)
