Published on Gold Anti-Trust Action Committee (http://www.gata.org)

Big banks in $1.87 billion swaps price-fixing settlement

By cpowell
Created 2015-09-11 16:40

By Jonathan Stempel
Friday, September 11, 2015

NEW YORK -- Twelve major banks have reached a $1.865 billion settlement to resolve investor claims that they conspired to fix prices and restrain competition in the roughly $16 trillion market for credit default swaps, a lawyer for the investors said today.

The settlement in principle was disclosed at a hearing before U.S. District Judge Denise Cote in Manhattan.

Daniel Brockett, the lawyer for the investors, said Cote gave both sides two weeks to iron out details, before submitting a settlement for her preliminary approval.

The defendants include Bank of America Corp., Barclays, BNP Paribas, Citigroup, Credit Suisse Group, Deutsche Bank, Goldman Sachs Group, HSBC Holdings, JPMorgan Chase, Morgan Stanley, Royal Bank of Scotland Group, and UBS. ...

... For the remainder of the report:

http://www.reuters.com/article/2015/09/11/us-swaps-settlement-idUSKCN0RB... [1]


Buy metals at GoldMoney and enjoy international storage

GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, ­taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:

http://www.goldmoney.com/?gmrefcode=gata [2]

Join GATA here:

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday-Saturday, October 28-31, 2015

https://jeffersoncompanies.com/landing/gata [3]

The Silver Summit and Resource Expo 2015
Park Central Hotel, San Francisco, California
Monday-Tuesday, November 23-24, 2015

http://cambridgehouse.com/event/50/the-silver-summit-and-resource-expo-2... [4]

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell [5]

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html [6]

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts [7]

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal [8]

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org [9]

To contribute to GATA, please visit:

http://www.gata.org/node/16 [10]