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Switzerland: Credit Agricole reveals derivatives probe

 |  November 10, 2014

French lender Credit Agricole revealed Friday that Swiss competition authorities have launched an investigation into the bank’s interest rate activities.

Credit Agricole said the Swiss competition commission Comco is probing its business practices surrounding the Euribor and other interest rate benchmarks. The bank added that Comco’s investigation included other lenders as well.

Credit Agricole is currently involved in investigations by US authorities for its role in alleged foreign exchange market manipulation. The European Commission is also scrutinizing the French bank for alleged Euribor manipulation; earlier this year, Credit Agricole accused the Commission of bias in the case.

Full content: Economic Times of India

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