Hong Kong probes UBS over rate rigging claims

Hong Kong’s de facto central bank said on Thursday that it would probe Swiss banking giant UBS over claims of possible rigging of Hong Kong’s interbank offered rate (Hibor).

“The HKMA has commenced an investigation with a view to ascertaining any misconduct committed by the bank in relation to HIBOR submissions,” the Hong Kong Monetary Authority said in a statement, adding it had received information of possible misconduct.

via Business feed http://www.scmp.com/business/banking-finance/article/1108966/hong-kong-probes-ubs-over-rate-rigging-claims