Read as much as you want on BostonGlobe.com, anywhere and anytime, for just 99¢.

Bruins Live

1

2

Final

Celtics Live

98

114

Final

UBS faces rate probe in Hong Kong

HONG KONG — Hong Kong authorities are investigating the Swiss bank UBS for possible misconduct related to a benchmark interest rate.

The Hong Kong Monetary Authority said it has launched a probe to determine if there was wrongdoing when UBS submitted data used to set the Hong Kong interbank offered rate, known as Hibor.

Continue reading below

UBS said it will ‘‘work closely with various regulatory authorities” but would not comment further.

On Wednesday, UBS agreed to pay $1.5 billion in fines in a settlement with US, British, and Swiss regulators. The bank said that some of its employees tried to rig the Libor­ rate — short for London interbank offered rate — in several currencies.

The Libor is set daily using information that banks provide and is used to price trillions of dollars in contracts around the world, including mortgages and credit cards. Hibor is used mainly by Asian lenders and borrowers.

Loading comments...
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com