Three former ICAP brokers charged in the U.S. over their involvement in Libor-rigging will be interviewed by U.K. prosecutors within weeks, two people with knowledge of the probe said.
LIBOR, the London Interbank Offered Rate, is the average interest rate estimated by leading banks in London that they would be charged if borrowing from other banks.
Citigroup may be fined by the European Union as soon as next month following a probe into the rigging of yen Libor submissions, according to two people with knowledge of the case.
EU antitrust regulators are set to fine six global banks including Deutsche Bank, JPMorgan and HSBC for suspected rigging of benchmark euro zone interest rates, a person familiar with the matter said on Tuesday.
A year ago, when Barclays' investment bank boss Rich Ricci was still at the bank, and part of the clean-up operation following the Libor fine, he told parliamentarians on the banking standards committee that the bank was looking at the integrity of 80 financial instruments and benchmarks where it was involved in setting prices.
Barclays has become caught up in the new investigation by global regulators into the potential manipulation of the £3tn-a-day currency markets, in the latest set back for bank as it attempts to cleanup in its reputation in the wake of the Libor rigging scandal.
The Libor rigging scandal was reignited on Tuesday, forcing the chairman of Rabobank to quit after the Dutch bank was fined €774m (£662m) for rigging the benchmark interest rate.
Rabobank, the co-operative formed in 1898 to lend to Dutch farmers, was fined $1.1bn for its involvement in rigging benchmark interest rates, the second-largest in the global investigation. The bank’s chairman, Piet Moerland, said he would resign.
Rabobank Groep, the Netherlands’ mortgage lender, will pay about $1bn to resolve regulators’ claims that it tried to manipulate benchmark interest rates, two people with knowledge of the matter said.
Bloomberg's Mark Barton reports on the latest company news making headlines on Bloomberg Television's "Countdown."
The Serious Fraud Office has written to 22 individuals to tell them they are facing investigation for potential Libor rigging, a London court heard on Monday.
UBS has reached an immunity deal with European Union antitrust authorities that will spare the giant Swiss bank from further fines for manipulation of benchmark interest rates, according to people familiar with the matter.
Barclays Plc’s ex CEO, Robert Diamond, was contradicted by his former chief operating officer and criticized by regulators investigating the Libor-rigging scandal.
The first UK trial concerning the alleged fraudulent manipulation of Libor rates has been delayed until next year after Barclays won the right to challenge aspects of the high court case.
Bloomberg's Stephanie Ruhle reports that the Berkshire Bank sued 21 banks including Bank of America, Barclays and Citigroup for damages over the alleged manipulation of Libor.
In total RBS, Barclays and UBS will pay nearly $3 billion in fines stemming from the multi-year practice of artificially suppressing these benchmark interest rates, a practice that spanned the financial crisis and beyond. While the fines vary, the charges are becoming more egregious.
HSBC has already been fined £1.2bn for breaching money-laundering rules and Royal Bank of Scotland and Barclays hit with major penalties for rigging Libor, but over the past two weeks Britain's major banks have warned shareholders of the wide range of investigations they still face that could lead to even more fines.
You don't have to be reading one of John Le Carre's spy novels to believe his quote that "bankers will always get away with whatever they can get away with".
The Dutch central bank failed to act after receiving signals Rabobank Groep was involved in rigging benchmark interest rates, members of Parliament said.
Deutsche Bank launched a legal appeal against a German labour court ruling that forced it to reinstate four fired traders, potentially exposing the lender to new embarrassing testimony.
More embarrassing banker emails ?
Global regulators may start overseeing currency rates in a widening response to benchmark-rate setting scandals that began with revelations on the manipulation of Libor, according to two people familiar with the matter.
Firings, toxic assets, reduced compensation and banker jail threats - just a normal day in the markets.
London's financial sector was last night bracing itself for another official investigation into alleged price-fixing following reports that a US regulator is considering launching an inquiry into the City's gold and silver markets.