


By Foo Yun Chee
BRUSSELS (Reuters) - HSBC has won an appeal against a decision by European antitrust regulators to fine Europe's second-largest bank 33.6 million euros ($36 million) over its role in a cartel to manipulate benchmark Euribor interest rates in 2007.
However, the European Court of Justice, Europe's highest court, said on Thursday that it had dismissed the bank's challenge against a ruling that found it had participated in a cartel.
"The Court of Justice upholds the annulment of the 33.6 million euro fine imposed on the HSBC Group," the Luxembourg-based EU Court of Justice (CJEU) said, but added that it "dismisses the HSBC companies' action challenging the finding that it participated in the cartel at issue".
An HSBC spokesperson declined to comment.
The European Commission, the bloc's executive body, ruled in 2016 that HSBC and six other banks had tried to distort Euribor (euro interbank offered rate), a benchmark for rates on financial products, fining the lender 33.6 million euros.
HSBC, penalised alongside JPMorgan (NYSE:JPM) and Credit Agricole (OTC:CRARY), challenged the decision and in 2019, a lower tribunal scrapped the fine because of insufficient reasoning.
The European Commission subsequently re-imposed a slightly lower fine of 31.7 million euros in 2021.
The Commission has said the trio was part of a cartel that colluded between September 2005 and May 2008 to try to rig Euribor interest rates - which provide a benchmark for rates on financial products such as interest rate swaps, futures, saving accounts and mortgages - to increase profit or reduce risk.
It said traders at seven banks were in regular contact and exchanged information on their trading positions and pricing strategies via chatrooms or messaging services.
HSBC, JPMorgan and Credit Agricole opted against settling with European regulators and, following a full investigation, JPMorgan was fined 337.2 million euros and Credit Agricole was ordered to pay 114.7 million euros.
Both banks are also appealing. JPMorgan and Credit Agricole both declined to comment.
Deutsche Bank (ETR:DBKGn), RBS (LON:NWG) and Societe Generale (OTC:SCGLY) admitted wrongdoing in return for much lower fines, while Barclays (LON:BARC) blew the whistle on the cartel and escaped a penalty.
EU, U.S. and British regulators have fined banks billions of euros for manipulating benchmark interest rates and the foreign exchange market.
The case is C-883/19 P HSBC Holdings (NYSE:HSBC) and Others v Commission.
($1 = 0.9310 euros)
EUR/USD
1.0776
-0.0008 (-0.08%)
Summary
NeutralMoving Avg:
Buy (5)
Sell (7)
Indicators:
Buy (5)
Sell (2)
EUR/USD
1.0776
-0.0008 (-0.08%)
Summary
NeutralMoving Avg:
Buy (5)
Sell (7)
Indicators:
Buy (5)
Sell (2)
GBP/USD
1.2547
-0.0013 (-0.10%)
Summary
NeutralMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (3)
Sell (3)
USD/JPY
139.31
+0.39 (+0.28%)
Summary
↑ BuyMoving Avg:
Buy (9)
Sell (3)
Indicators:
Buy (7)
Sell (1)
AUD/USD
0.6696
-0.0021 (-0.31%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (2)
Sell (6)
USD/CAD
1.3370
+0.0013 (+0.10%)
Summary
SellMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (0)
Sell (8)
EUR/JPY
150.13
+0.34 (+0.23%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (6)
Sell (0)
EUR/CHF
0.9695
+0.0002 (+0.02%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (8)
Sell (0)
Gold Futures
1,977.45
-1.15 (-0.06%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (0)
Sell (8)
Silver Futures
24.335
-0.013 (-0.05%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (1)
Sell (9)
Copper Futures
3.7752
-0.0116 (-0.31%)
Summary
NeutralMoving Avg:
Buy (5)
Sell (7)
Indicators:
Buy (5)
Sell (3)
Crude Oil WTI Futures
70.76
-0.53 (-0.74%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (0)
Sell (9)
Brent Oil Futures
75.42
-0.54 (-0.71%)
Summary
↑ SellMoving Avg:
Buy (2)
Sell (10)
Indicators:
Buy (0)
Sell (9)
Natural Gas Futures
2.318
+0.001 (+0.04%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (1)
Sell (9)
US Coffee C Futures
195.63
+10.23 (+5.52%)
Summary
↑ BuyMoving Avg:
Buy (8)
Sell (4)
Indicators:
Buy (6)
Sell (2)
Euro Stoxx 50
4,297.68
+5.77 (+0.13%)
Summary
↑ SellMoving Avg:
Buy (5)
Sell (7)
Indicators:
Buy (3)
Sell (6)
S&P 500
4,293.93
+26.41 (+0.62%)
Summary
SellMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (2)
Sell (7)
DAX
15,989.96
+29.40 (+0.18%)
Summary
↑ SellMoving Avg:
Buy (4)
Sell (8)
Indicators:
Buy (1)
Sell (7)
FTSE 100
7,599.74
-24.60 (-0.32%)
Summary
NeutralMoving Avg:
Buy (4)
Sell (8)
Indicators:
Buy (4)
Sell (3)
Hang Seng
19,334.00
+34.82 (+0.18%)
Summary
NeutralMoving Avg:
Buy (9)
Sell (3)
Indicators:
Buy (1)
Sell (5)
US Small Cap 2000
1,880.78
-7.67 (-0.41%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (6)
Sell (2)
IBEX 35
9,338.30
-21.50 (-0.23%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (2)
Sell (7)
BASF SE NA O.N.
46.870
+0.420 (+0.90%)
Summary
NeutralMoving Avg:
Buy (5)
Sell (7)
Indicators:
Buy (7)
Sell (2)
Bayer AG NA
51.95
-0.18 (-0.35%)
Summary
NeutralMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (5)
Sell (1)
Allianz SE VNA O.N.
208.90
+0.05 (+0.02%)
Summary
↑ BuyMoving Avg:
Buy (8)
Sell (4)
Indicators:
Buy (7)
Sell (1)
Adidas AG
159.02
-0.24 (-0.15%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (8)
Sell (1)
Deutsche Lufthansa AG
9.136
+0.003 (+0.03%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (8)
Sell (1)
Siemens AG Class N
158.76
+0.30 (+0.19%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (8)
Sell (0)
Deutsche Bank AG
9.863
+0.051 (+0.52%)
Summary
↑ BuyMoving Avg:
Buy (7)
Sell (5)
Indicators:
Buy (7)
Sell (2)
EUR/USD | 1.0776 | Neutral | |||
GBP/USD | 1.2547 | Neutral | |||
USD/JPY | 139.31 | ↑ Buy | |||
AUD/USD | 0.6696 | ↑ Sell | |||
USD/CAD | 1.3370 | Sell | |||
EUR/JPY | 150.13 | ↑ Buy | |||
EUR/CHF | 0.9695 | ↑ Buy |
Gold | 1,977.45 | ↑ Sell | |||
Silver | 24.335 | ↑ Sell | |||
Copper | 3.7752 | Neutral | |||
Crude Oil WTI | 70.76 | ↑ Sell | |||
Brent Oil | 75.42 | ↑ Sell | |||
Natural Gas | 2.318 | ↑ Sell | |||
US Coffee C | 195.63 | ↑ Buy |
Euro Stoxx 50 | 4,297.68 | ↑ Sell | |||
S&P 500 | 4,293.93 | Sell | |||
DAX | 15,989.96 | ↑ Sell | |||
FTSE 100 | 7,599.74 | Neutral | |||
Hang Seng | 19,334.00 | Neutral | |||
Small Cap 2000 | 1,880.78 | ↑ Buy | |||
IBEX 35 | 9,338.30 | ↑ Sell |
BASF | 46.870 | Neutral | |||
Bayer | 51.95 | Neutral | |||
Allianz | 208.90 | ↑ Buy | |||
Adidas | 159.02 | ↑ Buy | |||
Lufthansa | 9.136 | ↑ Buy | |||
Siemens AG | 158.76 | ↑ Buy | |||
Deutsche Bank AG | 9.863 | ↑ Buy |
Mua/Bán 1 chỉ SJC # So hôm qua # Chênh TG | |
---|---|
SJC Eximbank | 6,660![]() ![]() (20 ![]() ![]() |
SJC HCM | 6,650![]() ![]() (10 ![]() ![]() |
SJC Hanoi | 6,650![]() ![]() (10 ![]() ![]() |
SJC Danang | 6,650![]() ![]() (10 ![]() ![]() |
SJC Nhatrang | 6,650![]() ![]() (10 ![]() ![]() |
SJC Cantho | 6,650![]() ![]() (10 ![]() ![]() |
Cập nhật 09-06-2023 11:35:26 | |
Xem lịch sử giá vàng SJC: nhấn đây! |
ↀ Giá vàng thế giới | ||
---|---|---|
$1,962.71 | -2.72 | -0.14% |
ʘ Giá bán lẻ xăng dầu | ||
---|---|---|
Sản phẩm | Vùng 1 | Vùng 2 |
RON 95-V | 22.790 | 23.240 |
RON 95-III | 22.010 | 22.450 |
E5 RON 92-II | 20.870 | 21.280 |
DO 0.05S | 17.940 | 18.290 |
DO 0,001S-V | 18.800 | 19.170 |
Dầu hỏa 2-K | 17.770 | 18.120 |
ↂ Giá dầu thô thế giới | |||
---|---|---|---|
WTI | $70.89 | -1.15 | -0.02% |
Brent | $75.37 | -1.07 | -0.01% |
$ Tỷ giá Vietcombank | ||
---|---|---|
Ngoại tệ | Mua vào | Bán ra |
USD | 23.290,00 | 23.660,00 |
EUR | 24.678,80 | 26.060,66 |
GBP | 28.738,92 | 29.964,33 |
JPY | 164,35 | 174,00 |
KRW | 15,70 | 19,13 |
Cập nhật lúc 11:32:58 09/06/2023 Xem bảng tỷ giá hối đoái |