EU states rate-rigging case vs. 3 banks

BRUSSELS: The European Commission said on Tuesday it had informed Credit Agricole, HSBC and JPMorgan of its reasons for believing they rigged interest rate benchmarks crucial to global financial markets.

Following a probe, the Commission said it had now told the three of its “preliminary view that they may have breached EU antitrust rules by colluding to influence the pricing of interest rate derivatives denominated in the euro currency.”