In re LIBOR-Based Financial Instruments Antitrust Litigation
Lenders LIBOR Settlements
MDL No. 11-MD-2262 (NRB)

Welcome to the Home of the Lenders LIBOR Settlements Website

If you are a U.S.-Headquartered Lending Institution that owned a loan with interest payable to you at a rate based upon U.S. Dollar LIBOR anytime between August 1, 2007 and May 31, 2010, you may be eligible for a payment from a Settlement Totaling $1,900,000.

What is this lawsuit about?

In a class-action lawsuit about alleged manipulation of the London Interbank Offered Rate (“LIBOR”), a Settlement has been reached with the remaining Defendants. The lawsuit claims that the Settling Defendants and other banks (see FAQ 2) unlawfully manipulated U.S. Dollar LIBOR, artificially lowering the rate and causing class members to lose money in connection with loans and transactions regarding loans that paid interest based upon U.S. Dollar LIBOR.

Who are the Settling Defendants?

The Settling Defendants are The Royal Bank of Scotland Group plc (n/k/a NatWest Group plc), British Bankers’ Association, BBA Enterprises Ltd., BBA Trent Ltd. (f/k/a BBA LIBOR Ltd.) (together, “BBA”), Coöperatieve Rabobank U.A. (f/k/a Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A.), Lloyds Banking Group plc and HBOS plc (together, “Lloyds”), The Norinchukin Bank, Portigon AG (f/k/a WestLB AG), Westdeutsche Immobilien Servicing AG (f/k/a Westdeutsche ImmobilienBank AG), and Royal Bank of Canada.

Who is included?

You are included in the Settlement if you are lending institution headquartered in the United States, including United States territories, and originated loans, held loans, held interests in loans, owned loans, owned interests in loans, purchased loans, purchased interests in loans, sold loans, or sold interests in loans with interest rates based upon U.S. Dollar LIBOR (“U.S. Dollar LIBOR-Based Loans”), which rates adjusted at any time between August 1, 2007, and May 31, 2010. Class Members will release claims through the Settlements only against Settling Defendants and their affiliates, officers, directors, employees, and other related persons.

The loans affected include, among others: U.S. Dollar LIBOR-based loans that include a term, provision, or obligation or right to receive interest payments based on U.S. Dollar LIBOR. The Settlement does not include other types of U.S. Dollar LIBOR-based instruments such as interest rate swaps or bonds.

What do these Settlements provide?

The Settlement with the Settling Defendants will create a $1,900,000 Settlement Fund that will be used to pay eligible Class Members who submit valid claims. The cost to administer the Settlement, attorneys’ fees, and the payment to the Class Representatives will come out of the Settlement Fund (See FAQ 20).

Where can I find information about previous Settlements?

Previous Settlements with Citibank, HSBC and Barclays Credit received final approval from the Court on December 20, 2018. Previous Settlements with JPMorgan, Bank of America, and UBS received final approval from the Court on May 26, 2020. A previous Settlement with Deutsche Bank received final approval from the Court on March 15, 2021. Previous Settlement with Suisse Group AG and MUFG Bank, Ltd. f/k/a The Bank of Tokyo-Mitsubishi UFJ, Ltd.  received final approval from the Court on July 26, 2022. Information about these prior settlements can be accessed via the FAQ page.

YOUR LEGAL RIGHTS AND OPTIONS

For information on the dates by which to exercise the options described below for each of the Settlements, visit the Key Dates page.

Already Submitted A Valid Proof Of Claim In Prior Settlement?

You need not submit a Claim Form now if you previously submitted a valid proof of claim in any of the prior settlements. The claims administrator will use the information already on file.

If You Did Not Previously Submit A Claim - Submit a Claim

This is the only way to get a payment if you did not submit a valid Proof of Claim to the Claims Administrator in connection with the previous settlements in the Lender Action. See FAQ 14.

Ask to be Excluded

You will get no monetary benefits from the Settlements. This is the only option that allows you to retain any claims released by the Settlements against Settling Defendants about U.S. Dollar LIBOR manipulation and other claims at issue in this case. See FAQ 16.

Object

If you wish to object to the Settlement, or anything else referenced in the Notice, you must file a written objection. See FAQ 21.

Go to a Hearing

You may request to be heard at the Fairness Hearing. See FAQ 23.

Do Nothing

If you already sent a valid Proof of Claim in connection with the previous settlements in the Lender Action and wish to receive a payment in connection with these Settlements, you were encouraged to do nothing. The Claims Administrator processed your claim using the information previously submitted.

If you did not previously submit a valid Proof of Claim in connection with the previous settlements in the Lender Action and do nothing here, you forfeit your right to get a monetary benefit from the Settlements.

Regardless of whether you send in a Proof of Claim, unless you exclude yourself, you gave up your rights to assert claims released by the Settlements against Settling Defendants about U.S. Dollar LIBOR manipulation claims at issue in this case.

For More Information

Visit this website often to get the most up-to-date information.

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Lenders LIBOR Settlements
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