Deutsche Bank AG and Royal Bank of Scotland Group are among six companies fined a record 1.7 billion euros ($2.3 billion) by the European Union for rigging interest rates linked to Libor.

Deutsche Bank was fined 725 million euros, the biggest single penalty. Societe Generale SA was fined 446 million euros and RBS must pay 391 million euros, the EU said in a statement in Brussels. The combined fines for manipulating the yen London interbank offered rate and Euribor are the largest-ever EU cartel penalties.

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