Credit Suisse, Deutsche, NatWest Pay $48 Million in Libor Case

Credit Suisse Group AG, Deutsche Bank AG, and NatWest Group Plc stepped closer to exiting antitrust litigation over an interest rate manipulation scheme that they’ve agreed to settle for a combined $47.75 million.

Judge Sidney H. Stein signed off tentatively on the pacts, which call for payments of $13.75 million by Credit Suisse, $13 million by Deutsche Bank, and $21 million by NatWest. The lawsuit accused them of rigging the franc Libor, used to set interest rates for transactions involving Switzerland’s currency.

The case is part of a wave of cartel litigation stretching back more than a decade ...