News 

CFTC orders JPMorgan to pay $65 million to settle swap rate manipulation charge

“Pension funds and local governments often rely on products priced off the benchmark rate to help hedge against future interest rate changes” writes Midwest Communications Inc for 95kqds.com. WASHINGTON (Reuters) – JPMorgan Chase Bank NA will have to pay a $65 million civil penalty to settle charges that it attempted manipulating ISDAfix benchmark swap rates between 2007 and 2012, the U.S. Commodities Futures Trading Commission said on Monday.ISDAfix rates are used to help value the cash settlement of options on interest rate swaps and other products.The derivatives regulator said the bank made false reports and attempted to manipulate the U.S. Dollar International Swaps and Derivatives Association Fix to benefit its derivatives positions.
 
Source: 95kqds.com



Share This:

Related posts