UBS AG is nearing a settlement with U.S. and British regulators over allegations that it tried to manipulate the London interbank offered rate, or Libor, the Wall Street Journal reported today. A settlement could come as early as next week but might be pushed back to as late as January, as the Swiss bank tries to hammer out a deal simultaneously with at least three regulatory agencies. UBS would be the second bank to settle Libor-rigging charges, following Barclays PLC this summer. Barclays paid a total of roughly $450 million. UBS is expected to pay considerably more. Barclays' fine was reduced because the bank used tens of millions of dollars to conduct its own investigation.
