The Swiss lender is the 18th firm to reach a settlement with US prosecutors investigating the 2008 crisis.
Swiss bank UBS has agreed to pay $1.4bn to resolve fraud claims in the US stemming from the 2008 financial crisis.
Prosecutors said the bank had lied about the quality of mortgages that were packaged and sold to investors in a series of deals in 2006-2007.In a statement, it said it had already set aside money for the "legacy" matter and the deal would resolve all civil claims in the US. The bank had previously sought to have the case dismissed, saying prosecutors had not presented evidence of any intentional fraud.
"The scope of this settlement should serve as a warning to other financial institutions - both large and small - of the significant penalties that can result when corporations misrepresent vital information to investors and undermine trust in our public markets," he added.
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