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Swiss Prosecutor Opens Probe Into Ex-SNB Chairman Hildebrand

Wochit 0:51 mins

Switzerland's state prosecutor opened an investigation into former Swiss National Bank Chairman Philipp Hildebrand in connection with possible violations of secrecy laws, after receiving an undisclosed complaint. Heavy selling engulfed emerging markets again with more currencies falling prey to fears of higher global borrowing costs and a reduction in cheap cash supplies from the United States. China's top banks are expected to win approval for the issuance of tens of billions of yuan in negotiable certificates of deposit as early as next month, in another step towards developing market-determined interest rates.

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