Ten big banks settle U.S. interest rate swaps rigging litigation

📆 6/27/2024 9:10 PM
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Investors led by the city of Baltimore and pension funds in Chicago, Los Angeles and Michigan accused the banks of trying from 2013 to 2016 to corner swaps trading, in part by boycotting three upstart platforms that offered better prices

will pay $46 million to settle a long-running antitrust lawsuit accusing them of conspiring to rig the now $465.9 trillion market for interest rate swaps.

and let buy-side investors trade with each other. Lawyers for the investors did not immediately respond to requests for comment. They called the settlement an “excellent recovery” given the challenges of further litigation, oourt papers show.

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Ten big banks settle US interest rate swaps rigging litigationTen large banks including Bank of America, Goldman Sachs and JPMorgan Chase will pay $46 million to settle a long-running antitrust lawsuit accusing them of ...
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