Six banks said to be negotiating settlement in Swiss Libor probe

Geneva

AT least six banks targeted in Switzerland's investigation into Libor rigging are in settlement talks with the country's competition regulator, according to two sources, as the four-year probe moves closer to wrapping up.

Comco, as the Swiss Competition Commission is known, is trying to reach a so-called "accord amiable" with the banks as it aims to complete the probe by July, one source said.

A settlement in Switzerland would mean nearly all global investigations into rate-rigging are drawing to a close, about four years after the first fines were levied by US and British regulators. While banks face a smaller European Union probe,…