Daily News: January 16, 2018

Nine Banks Accused of Rigging Canadian Rate Benchmark


Reuters reported a lawsuit in the U.S. accuses nine banks, including Royal Bank of Canada, Bank of Montreal, CIBC, TD Bank, Bank of America, Deutsche Bank, Bank of Nova Scotia, HSBC and National Bank of Canada, of rigging the CDOR – a Canadian short-term rate instrument – to increase profits.

According to Reuters, a Colorado pension fund filed the lawsuit in U.S. District Court in Manhattan.