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HSBC Holdings has agreed to pay $30 million (R415m) to settle litigation by investors who accused 11 big banks of rigging the roughly $9 trillion government agency bond market from 2009 to 2015.

The settlement with the British bank was made public late Wednesday night in the federal court in Manhattan and requires approval by US District Judge Edgardo Ramos.

HSBC is the third bank to settle, after Deutsche Bank and Bank of America agreed in August 2017 to pay a respective $48.5m and $17m and co-operate with the plaintiffs.

Investors led by two Alaska government entiti...

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