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Dec 21 The Swiss Competition Commission (COMCO) said on Wednesday it had fined several European and U.S. banks over four instances of interest rate cartels, the largest of which was a 33.9 million Swiss franc ($ 32.9 million) penalty for JPMorgan Chase & Co.
The JPMorgan fine came after COMCO concluded it operated a bilateral cartel with Royal Bank of Scotland (RBS) with the aim of influencing the Swiss franc LIBOR benchmark between March 2008 and July 2009, COMCO said in a statement.
RBS received full immunity for revealing the existence of the cartel to the COMCO.
Barclays was also fined 29.8 million francs for participating in a cartel in euro interest rate derivatives, COMCO said.
For full information on the COMCO decisions see here
($ 1 = 1.0282 Swiss francs) (Reporting by Joshua Franklin; Editing by Michael Shields)