Eldridge Financial Blog: Swiss investigation into possible bank lending rate fixing is latest in a string
posted by smithhoward 1 days ago under eldridge financial switzerland, eldridge latest news, eldridge financial retirement planning strategies, eldridge eldridge financial domestic partner plan, eldridge eldridge financial wealth preservation st
BERN, SWITZERLAND – Comco, Switzerland’s competition commission, has opened an investigation into more than 10 international banks and companies and the country’s two largest, UBS and Credit Suisse, for possible “collusion between derivative traders [that] might have influenced the reference rates Libor and Tibor. Furthermore, market conditions regarding derivative products based on these reference rates might have been manipulated, too.”
The investigation follows what Comco calls an application to its leniancy programme, or self-denunciation, without providing details of who provided the information. The investigation could take several months. The banks targeted by the investigation include: Bank of Tokyo-Mitsubishi UFJ, Citigroup Inc., Deutsche Bank Aktiengesellschaft, HSBC Holdings plc, JP Morgan Chase & Co., Mizuho Financial Group Inc., Rabobank Groep N.V., Royal Bank of Scotland Group plc, Société Générale SA and Sumitomo Mitsui Banking Corporation. » Eldridge Financial Blog: Swiss investigation into possible bank lending rate fixing is latest in a string |
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