U.S., British Officials Poised to Charge Banks With Rigging Interest Rates

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U.S., British Officials Poised to Charge Banks With Rigging Interest Rates

February 16th, 2016

Awake Goy

American and British regulators are likely to charge several banks with rigging interest rates, including Citigroup, the third-largest U.S. bank, and London-based HSBC Holdings, the Wall Street Journal reported on Friday.

The U.S. Commodity Futures Trading Commission (CFTC) and the U.K. Financial Conduct Authority were preparing a final round of civil charges against the banks for rate manipulation in the Libor scandal, the newspaper reported, citing people close to the investigation.

The Journal said the CFTC was still investigating J.P. Morgan Chase, the largest American bank by assets, but that may not lead to charges. U.K. regulators said last year they dropped their probe of J.P. Morgan.