JPMorgan, HSBC, Credit Agricole “Bank Cartel” Fined $521 Million For Euribor Rigging

by Tyler Durden
ZeroHedge.com
Dec 7, 2016

The European Commission has fined Crédit Agricole, HSBC and JPMorgan Chase, a total of €485m for participating in a cartel concerning the pricing of interest rate derivatives denominated in euros. “The aim of the cartel was to distort” Euribor, said EU competition policy chief Vestager. The traders involved “tried to submit quotes to move the Euribor rate up or down.”

The Rest…HERE

This entry was posted on Wednesday, December 7th, 2016 at 12:28 pm and is filed under Conspiracy, Corruption, Economics, New World Order. You can follow any responses to this entry through the RSS 2.0 feed.