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Seven Banks Said to Be Focus of Mexico Bond Collusion Probe

  • Citi, HSBC, BBVA, BofA, Barclays said to be among those probed
  • Investigation centers on $400 billion local bond market
Updated on

Mexican authorities have zeroed in on seven banks, including three from the U.S., as part of a widening investigation into price manipulation in the nation’s bond market, according to a person with knowledge of the matter.

Local units of Banco Santander SA, Banco Bilbao Vizcaya Argentaria SA, JPMorgan Chase & Co., HSBC Holdings Plc, Barclays Plc, Citigroup Inc. and Bank of America Corp. have become the focus of the probe, according to the person, who asked not to be identified because the information is private. None of the banks has been accused of wrongdoing.