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Swiss Fine Credit Agricole, HSBC $7.2 Million Over Euribor

Oct. 27, 2020, 8:28 AM

Credit Agricole SA and an HSBC Holdings Plc unit were fined a combined 6.5 million Swiss francs ($7.2 million) by Swiss regulators over the rigging of a key benchmark interest rate.

Credit Agricole was fined 4.5 million francs and HSBC’s French unit close to 2 million francs, the Swiss Competition Commission said in a statement Tuesday. The penalties are part of a an “accord amiable” that will see the banks face no further action.

The fines are among the last in global investigations into how some traders manipulated the Euribor rate -- which is tied to trillions of euros of ...

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