Credit Suisse and three further major banks may have coordinated their bond pricing for years and the European Union has now initiated a probe into the activities.
The Commission opened an investigation directed at Credit Suisse, Deutsche Bank, Credit Agricole and Bank of America, according to a report by «Bloomberg». The banks are suspected of having exchanged sensitive information and having collaborated on bond prices between 2009 and 2015.
The three European banks are cooperating with the Commission, while Bank of America didn’t comment.
Credit Suisse Blames Individual
Credit Suisse said the allegations were based on the conduct of one individual who had left the bank in 2016.
The EU already look into price fixing allegations in the Libor and Euribor markets and is about to conclude the case of exchange rate manipulations.
