Friday, August 17, 2012

Libor investigation grows

Aug 16, 2012 by Euronews

http://www.euronews.com/ US prosecutors have more banks in their sights over the Libor international interest rate fixing scandal.

Reportedly JPMorgan Chase, Deutsche Bank, Royal Bank of Scotland and HSBC Holdings are among those ordered to hand over information as part of a joint investigation by the attorneys general of New York and Connecticut.

Looking for evidence of collusion they want records of communications between the banks. UBS and Citigroup were reportedly earlier asked for similar data. Barclays is also part of the probe. In June it was fined the equivalent of 366 million euros by British and US authorities for manipulating the rate.

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