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Swiss regulator fines banks $96.3m for rate rigging

Comco found banks guilty of manipulating benchmark rates that influence an array of loans and financial products

Swiss regulator fines banks $96.3m for rate rigging
Photo: iStock

A Swiss regulator has fined a handful of global banks for conspiring to rig key interest rates and the pricing of contracts over several years stretching back to the period prior to the financial crisis.

The move adds another layer to the already significant penalties handed out to banks for manipulating benchmark rates that influence an array of loans and financial products.

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