HSBC is being probed by Hong Kong regulators over whether it manipulated the rates at which banks lend to each other in the island’s financial markets, writes Paul J Davies.

香港监管机构正就汇丰(HSBC)是否操纵了香港银行同业拆息对该行展开调查。

The Hong Kong Monetary Authority – the de facto central bank and industry regulator in the Chinese city – has been investigating a number of institutions, but named HSBC after the UK-listed lender was listed among 20 banks being disciplined for alleged rate rigging in Singapore.

这个中国特别行政区事实上的央行和行业监管机构——香港金融管理局（HKMA,简称金管局）近来正调查多家金融机构，但在新加坡宣布在英国上市的汇丰等20家银行因涉嫌操纵利率将受到处罚后，金管局点了汇丰的名。

The HKMA launched its probe last December into Hibor, the local interbank borrowing rate, which is used as a basis for mortgage and other lending rates in the city. UBS was the main focus at the start of the probe, sparked by information from regulators in Japan, the US and UK about the Swiss bank’s role in manipulating Libor, the larger benchmark used for contracts worth $300tn worldwide.

香港银行同业拆息(Hibor)是香港按揭贷款和其它贷款的基准利率。香港金管局去年12月开始调查操纵Hibor行为。调查一开始主要针对瑞银(UBS)，因为日本、美国和英国的监管机构称，这家瑞士银行涉嫌操纵伦敦银行间同业拆借利率(Libor)——全球价值300万亿美元合同使用的基准利率。

“Apart from UBS, the HKMA have . . . followed up with a number of banks including HSBC [both local and international banks] to ascertain whether there have been any inappropriate market conducts in their benchmark rate submissions,” the HKMA said yesterday. “Our investigation is still ongoing.”

香港金管局昨日表示：“除瑞银以外，香港金管局……对包括汇丰（本土和国际分支）在内的多家银行展开了调查，以确认它们在提交基准利率时是否存在不当市场行为。”

HSBC declined to comment.

汇丰拒绝置评。

The Monetary Authority of Singapore singled out Royal Bank of Scotland, UBS and ING for the toughest punishment, but said that employees at all 20 banks improperly sought to influence key benchmarks.

新加坡金融管理局(MAS)对苏格兰皇家银行(Royal Bank of Scotland)、瑞银和荷兰国际集团(ING)进行了最严厉的处罚，但表示，所有20家银行的雇员都曾试图对一些关键基准利率施加不当影响。