Switzerland's antitrust authority fined two more banks for colluding on European benchmark rates.
The Swiss competition commission, or Comco, is levying fines of 4.5 million Swiss francs ($5 million) and 2 million francs on Crédit Agricole and HSBC's French bank respectively, it said in a statement (in German) on Tuesday. The penalties are part of a sanction for colluding on Euribor reference rates.
The two are the latest in a series of global lenders including Barclays, Deutsche Bank, Royal Bank of Scotland, and Société Générale to be sanctioned by Swiss officials in a more than four-year investigation. Comco generally reaches so-called amicable settlements in the cases, though its rulings can still be challenged at Switzerland's highest court.
