Hong Kong Scans `Millions of Messages' in Rate-Rigging Probe

Hong Kong’s central bank extended its investigation of possible misconduct in setting the city’s benchmark interest rates to HSBC Holdings Plc and other lenders after crackdowns by the U.S., U.K., Japan and Singapore.

The Hong Kong Monetary Authority’s probe, which started with UBS AG in December and has since been widened to “a number” of banks, is continuing, the central bank said in an e-mailed statement yesterday. HKMA said it asked London-based HSBC, whose shares are listed in Hong Kong, to “promptly implement” remedial measures required by Singapore’s central bank last week following a similar probe in the city-state.