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Lending rate probe expands

india Updated: Jul 08, 2012 23:02 IST
Deutsche Bank

A global investigation into manipulation of interbank lending rates widened with Britain's fraud squad taking up the case and 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. The SFO will now assemble a case team to pursue an investigation - although it could take years. A spokesman noted that its remit would not be confined to Barclays.