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7 banks subpoenaed in US Libor probe

Published on Aug 16, 2012 11:34 AM
 
Seven banks have been subpoenaed in the United States (US) in the investigation into rigging the Libor benchmark interest rate, a source close to the case told AFP on Wednesday. -- PHOTO: REUTERS

NEW YORK (AFP) - Seven banks have been subpoenaed in the United States (US) in the investigation into rigging the Libor benchmark interest rate, a source close to the case told AFP on Wednesday.

New York authorities subpoenaed UBS, Deutsche Bank, Royal Bank of Scotland, JP Morgan, Citigroup, HSBC and Barclays Bank in their probe into fixing the key London-centred interest rate, used as a reference by banks, businesses and private borrowers worldwide, they said.

The subpoenas were sent between May and July, according to the source.

The authorities have requested documents but have not interviewed any bank officials in the case.

 
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