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Britain's Lloyds Banking Group said Monday it will pay £218 million in fines to British and US regulators, becoming the latest global lender to be fined for rigging inter-bank lending rates. The punishment, worth $370 million or 276 million euros, is the latest twist in the long-running Libor scandal that has badly tarnished the reputation of London as a financial centre. Lloyds's settlement is the seventh joint penalty handed out by the US and Britain as part of a long-running probe into attempts to manipulate benchmarks that set rates for trillions of dollars of financial transactions. Lloyds Banking Group said in its statement "it has reached settlements totalling £218 million" regarding its submissions to the British Bankers' Association (BBA) London Interbank Offered Rate (Libor) and Sterling Repo Rate.