JPMorgan, Credit Agricole and HSBC fined for Euribor rigging

Paris

JPMORGAN Chase & Co, HSBC Holdings Plc and Credit Agricole SA were fined a total of 485.5 million euros (S$738 million) for rigging the Euribor benchmark as European Union antitrust regulators wrapped up a five-year investigation into the scandal.

The trio colluded on euro interest rate derivative pricing elements, and exchanged sensitive information, in breach of EU antitrust rules, the European Commission said on Wednesday.