View more on these topics

Lloyds Banking Group under investigation for Libor rigging


An American investigation into the Libor rigging scandal has significantly widened its scope to include nine more global banks including Lloyds Banking Group, according to reports.

The FT reports that the New York and Connecticut attorney-generals have issued subpoenas to Bank of America, Bank of Tokyo, Mitsubishi UFJ, Credit Suisse, Lloyds group, Rabobank, Royal Bank of Canada, Societe Generale, Norinchukin and West LB.

The banks are added to the seven already under investigation that include Royal Bank of Scotland, HSBC and Barclays, bringing the total to 16.

In June Barclays paid £290m worth of global fines for rigging the global financial benchmark as its chairman Marcus Agius and chief executive Bob Diamond were both forced to resign.

The New York attorney general Eric Schneiderman was involved in Standard Chartered paying £217m in August to settle claims of money laundering with Iran.


News and expert analysis straight to your inbox

Sign up


    Leave a comment