COPENHAGEN (Reuters) - Norway's financial supervision authority (FSA) said on Wednesday it had fined Danske Bank 50 million Norwegian crowns ($4.42 million) for market manipulation. The financial
Norway FSA Imposes $4.4 Million Fine on Danske Bank
COPENHAGEN (Reuters) - Norway's financial supervision authority (FSA) said on Wednesday it had fined Danske Bank 50 million Norwegian crowns ($4.42 million) for market manipulation.
The financial watchdog, also known as Finanstilsynet, said it had imposed the penalty on the bank in connection with the issuance of a government bond in February 2023.
"Finanstilsynet believes that the swap rate was driven up by Danske Bank to an abnormal or artificial level at the time of pricing," the agency said, adding that it found the bank had profited from a high effective yield.
($1 = 11.3116 Norwegian crowns)
(Reporting by Louise Breusch Rasmussen, editing by Terje Solsvik)
