Crédit Agricole, HSBC and JP Morgan end up in the sights of the European Commission. The three banking giants of France, Switzerland and the United States are suspected of having taken part in a price cartel on certain euro interest rate derivatives.
The investigation follows the record €1,7 billion fine imposed last December on similar charges at six banks, including Deutsche Bank, Royal Bank of Scotland and Citigroup.
Brussels explains in a press release that it has issued a preliminary opinion in which it believes that antitrust rules may have been violated: "The Commission fears that the three banks may have taken part in a collusive scheme which aimed to distort the normal course of the components of price of European interest rate derivatives,” said the EU competition regulator.
