Finance
Norway FSA fines Danske Bank $4.4 million for market manipulation
Published by Global Banking & Finance Review®
Posted on January 22, 2025
1 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on January 22, 2025
1 min readLast updated: January 27, 2026
Norway's FSA fined Danske Bank $4.4 million for manipulating swap rates in a February 2023 bond issue, resulting in abnormal pricing and profits.
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)
The main topic is the $4.4 million fine imposed on Danske Bank by Norway's FSA for market manipulation.
Danske Bank was fined for driving swap rates to abnormal levels during a government bond issuance.
The fine was imposed by Norway's financial supervision authority, also known as Finanstilsynet.
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