HSBC to pay $100 mn to end Libor rigging lawsuit in US; awaits judge nod

About a dozen firms have paid almost $9 billion in fines to resolve government investigations around the world into rigging of the key benchmark

HSBC Holdings Plc agreed to pay $100 million to settle an antitrust lawsuit by over-the-counter investors, including the city of Baltimore and Yale University, who claimed they were harmed when they bought securities tied to rigged Libor.

The proposed settlement by the London-based bank follows similar agreements the investor group reached with Barclays Plc, Citigroup Inc, and most recently Deutsche Bank AG over similar allegations. The settlement will need to be approved by a federal judge in Manhattan.

The investors claimed that beginning in 2007 HSBC colluded with other banks to depress the Libor rate to minimize the amount the firms had