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US: Deutsche Bank, Credit Suisse beat libor-rigging suit

By  |  September 16, 2019

According to a report from Bloomberg Law, Credit Suisse Group, Deutsche Bank AG, and dozens of other banks beat a Southern District of New York lawsuit on Monday (September 16) that accused them of rigging Swiss franc interest rates.

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    The proposed antitrust class action claimed the financial firms conspired with BlueCrest Capital Management, a British hedge fund run by billionaire Michael Platt, to manipulate the Swiss franc London InterBank Offered Rate, or CHF Libor. The rate is a key benchmark that reflects and affects how much banks pay each day to borrow francs.

    Full Content: Bloomberg

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