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Following Barclays rate-fixing fine, US prosecutors launch probes into competitors reportedly including Lloyds Banking Group.
Nine additional banks have been drawn into accusations of Libor rate-fixing, according to news reports. It was reported that some of the world's biggest banks, including Britain's Lloyds Banking Group, had been sent subpoenas by two US state attorney generals. New York attorney general Eric Schneiderman and Connecticut's George Jepsen reportedly sent subpoenas to Bank of America, Bank of Tokyo Mitsubishi UFJ, Credit Suisse, Rabobank, Royal Bank of Canada, Societe Generale, Norinchukin Bank and West LB. Lloyds declined to comment about the report to Sky News. Its share price dropped around 1.5% in early trading.
The two US prosecutors have now put 16 banks under scrutiny, after previously launching investigations into Royal Bank of Scotland, Barclays, HSBC, Deutsche Bank, Citigroup, JPMorgan Chase and UBS. The US investigators have made requests for both communications and document trails at the banks.....Read more here: Nine More Banks Under Libor Rate-Fix Scrutiny
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The bailed-out lender is one of nine banks to receive subpoenas from New York attorney-general Eric Schneiderman and his Connecticut counterpart George Jepsen. Several other European banks have also received the requests for information, including Credit Suisse and Societe Generale, as well Bank of America and Japanese lenders Bank of Tokyo-Mitsubishi UFJ and The Norinchukin Bank.....Read more here: Lloyds latest UK bank to face Libor-rigging inquiry - Telegraph