UBS fined $1.5bn for Libor rigging
19 December 2012 Last updated at 22:29 GMT
Swiss banking giant UBS has agreed to pay $1.5bn (£940m) to US, UK and Swiss regulators for attempting to manipulate the Libor inter-bank lending rate.
It becomes the second major bank to be fined over Libor after Barclays was ordered to pay $450m to UK and US authorities in the summer.
Regulators worldwide are investigating a number of banks for rigging Libor.
Robert Peston reports.