Rate rigging probe escalates in UK and Germany

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Rate rigging probe escalates in UK and Germany

Reuters – A global investigation into manipulation of interbank lending rates widened on Friday with Britain’s fraud squad taking up the case and sources telling Reuters that Germany’s markets regulator had launched a probe into Deutsche Bank. Authorities in the United States, Europe, Japan and Canada are examining more than a dozen big banks over suspected rigging of the London Interbank Offered Rate (Libor). Britain’s Barclays has so far been the only bank to admit wrongdoing, agreeing last week to pay a fine of more than $450 million (290.5 million pounds). Read article

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