Three years after closing the initial stage in this case, the European Commission announced on Wednesday 7 December that it has decided to fine three banks (Crédit Agricole, HSBC and JP Morgan Chase) a total of €485 million.
The reason? The banks fixed prices (as did competitors fined in 2013 - Deutsche Bank, Société Générale, Royal Bank of Scotland and Barclays Bank) for interbank interest rate derivatives in euro (EURIBOR).
The four banks that had already been fined agreed to a...