The Royal Bank of Scotland plc agreed to pay a US $85 million fine to the Commodity Futures Trading Commission to resolve charges that, from 2007 through 2012 it attempted to manipulate the US Dollar International Swaps and Derivatives Association Fix. (The ISDAFIX – now known as the ICE Swap Rate – is a global benchmark for market rates and spreads for standard interest rate swaps. Click here for details.) Among other things, in the RBS Settlement Order, CFTC quoted from transcripts of telephone conversations where RBS employees humorously referenced their alleged efforts to manipulate the ISDAFIX. Just recently, The Goldman Sachs Group, Inc. and Goldman, Sachs & Co. settled charges also brought by the CFTC that, from January 2007 through March 2012, they too attempted on multiple occasions to manipulate the ISDAFIX. (Click here for details, in the article, "Investment Bank Agrees to Pay US $120 Million to Resolve Charges That It Attempted to Manipulate IRS Benchmark" in the January 8, 2017 edition of Bridging the Week.)