06:04 AM EST, 02/21/2025 (MT Newswires) -- The UK Competition and Markets Authority and four banks agreed on Friday to settle separate cases related to British government bonds, known as gilts, according to a statement by the regulator.

Citi, HSBC, Morgan Stanley and Royal Bank of Canada ( RY ) (RY.TO, RY) will pay fines totalling more than 100 million British pounds. Deutsche Bank has immunity for having reported its conduct, which began in 2009 and ended in 2013.

Friday's statement noted individual traders at each of the banks took part in private one-to-one Bloomberg chatrooms in which they shared sensitive information relating to buying and selling gilts on specific dates.