JPMorgan, HSBC Said to Face EU Antitrust Fines Over Euribor
- Credit Agricole may also get rate-rigging fine as soon as Dec.
- Trio shunned settlement and were sent formal complaint in 2014
This article is for subscribers only.
JPMorgan Chase & Co., HSBC Holdings Plc and Credit Agricole SA are set to face antitrust fines as soon as next month over rigging the Euribor benchmark, wrapping up a five-year European Union investigation, according to two people familiar with the status of the case.
EU regulators are making the final touches on a decision to fine the trio who shunned a settlement in late 2013, said the people who asked not to be identified because the decision isn’t public. The four other banks in the same probe agreed to pay penalties totaling about 825 million euros ($888 million.)