Six Banks Negotiating Settlement in Swiss Libor Probe
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 people familiar with the negotiations, as the four-year probe moves closer to wrapping up, reports Bloomberg Business.
“Comco, as the Swiss Competition Commission is known locally, is trying to reach a so-called ‘accord amiable’ with the banks as it aims to complete the probe by July, one of the people said. They asked not to be identified because the negotiations are continuing.” the report says.
If a settlement in Switzerland goes through, it could result in the conclusion of nearly all the global investigations into this rate-rigging case.