The Federal Bureau of Investigation (FBI) has joined the investigation into the alleged manipulation of LIBOR by UK banks during the financial crisis.
The FBI is working alongside regulators including the US Commodity Futures Trading Commission and the Securities and Exchange Commission, and the UK’s Serious Fraud Office is also taking an interest, the Telegraph reports. Lloyds Banking Group, Barclays, Royal Bank of Scotland and Swiss bank UBS have all revealed they are part of the investigation. Insiders believe another 10 banks may be involved, according to the Telegraph. The allegations centre on concerns banks manipulated the interbank lending rate, LIBOR, at the height of the financial crisis to lower borrowing costs artificial...
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