LIBOR Latest

Lloyd Blankfein with Hamster

Credit Agricole said on Thursday it had not been accused of any wrongdoing related to the attempted manipulation of benchmark lending rates by Barclays, adding it had responded to requests for information from 'various authorities'.

Reuters reports that the French bank added in a statement that it was not a contributor to the London interbank offered rate, or Libor, between 2005 and 2009. A report in Thursday's Financial Times referred to allegations of manipulation both of Libor and its European equivalent, Euribor, between 2006 and 2008.

Credit Agricole said it had only become a Libor panel contributor in November 2010.

In the meantime, the news agency reports that Lombard Odier Investment Managers, the wealth management arm of the Swiss private bank said on Thursday it was actively investigating press reports linking portfolio manager Mickaël Zrihen with the ongoing Libor probe.

On Wednesday, the Financial Times reported that Zrihen had been linked with a Barclays trader under scrutiny for the attempted manipulation of the region's benchmark interest rate during a period between 2005 and 2007 whilst he worked at French Bank Credit Agricole.

He is no longer trading pending the investigation.

Finally, Reuters reports that Goldman CEO Lloyd Blankfein has said that financial scandals like the one surrounding the London Interbank Offered Rate, or Libor, create uncertainty that only builds on the American public's mistrust of the industry after the 2007-2009 financial crisis.

'The biggest impact is once more undermining the integrity of a system that is already undermined substantially', Blankfein said, speaking before the Economic Club of Washington. 'There was this huge hole to dig out of in terms of getting the trust back, and now it's just that much deeper'.

Bank Workers CharityBank Workers Charity - Supporting bank workers

Register for Financial Markets News Alerts