HSBC agrees to pay $30m to settle litigation

HSBC Canary Wharf

HSBC has agreed to pay $30m to settle litigation by investors who accused 11 big banks of rigging the roughly $9 trillion government agency bond market from 2009 to 2015.

Reuters reports that the settlement with the British bank was made public late Wednesday night in the federal court in Manhattan, and requires approval by U.S. District Judge Edgardo Ramos.

HSBC is the third bank to settle, after Deutsche Bank and Bank of America agreed in August 2017 to pay a respective $48.5 million and $17 million and cooperate with the plaintiffs.

HSBC to pay $30 million to settle bond rigging lawsuit in U.S.

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