A PYMNTS Company

EU: Interest rate manipulation probe extended to include Swiss franc

By  |  February 22, 2013

The European Commission announced Friday that its investigation into benchmark lending rate manipulation will now include a probe of interest rates used as a reference for Swiss franc, as well as euro and yen. Commissioner Joaquin Almunia made the remarks at a speech in Paris, adding that banks and brokers are suspected of forming cartels in the derivative markets. Almunia also emphasized the Commission’s focus on the Libor investigations and that fines from EU regulators will cover all companies at once, whereas banks have settled separately.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    Subscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

     

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Full Content: Bloomberg

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.