UBS Chairman Axel Weber is urging fellow leaders of some of the world's biggest financial institutions to settle government probes into their alleged manipulation of a benchmark that determines the price at which banks lend to each other.

Weber suggested a deal Thursday during a meeting with JPMorgan Chase (JPM) Chief Executive Jamie Dimon, Citigroup (NYSE:C) CEO Mike Corbat, HSBC (HBC) Chairman Douglas Flint and Mark Carney, the governor of the Bank of Canada, who is expected to take over the Bank of England in July, Reuters reported.

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