8 EU Banks Fined for Rigging Interest Rates

by Editor | May 21, 2014 2:44 am

BBC – The European Commission has accused JPMorgan, HSBC and Credit Agricole of colluding to fix a key euro benchmark borrowing rate – Euribor.

The European Commission has fined eight banks – including RBS – a total of 1.7bn euros (£1.4bn) for forming illegal cartels to rig interest rates.

JP Morgan and HSBC will fight the charges. Credit Agricole will study the European Commission’s findings.

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