Jumat, 14 September 2012

Seven Bank Giant Ready Interrogated Related Scandal Libor

Jakarta -Seven banks have received subpoenas as part of its investigation of bank interest rates manipulation scandal Libor. JPMorgan Chase, Citigroup and UBS are included in banks that are called by the New York State Attorney Eric Schneiderman, according to a source close to the case, quoted from CNBC, Thursday (16/8/2012).

In a filing with the U.S. archives recent Securities and Exchange Commission, Citigroup said his son had received additional requests for information and documents from various u.s. Government agencies, and non-U.S., including from Attorney General of New York and Connecticut.

Three other bank which is also called the Deutsche Bank, HSBC and Royal Bank of Scotland, said a speaker who knows the case told the Associated Press yesterday. American regulators have fined United Kingdom and United Kingdom Barclays bank, of US $ 453 million having been provided false information during the 2005 to 2009 in order to keep the Libor interest rates remain low.

Libor is used to adjust the interest rate contract billions of dollars around the world, including mortgages and credit cards. It is a policy of its own and relies on the information deposited global banks to the banking authorities of United Kingdom.

The Attorney General of New York and Connecticut issued orders calling is because Libor is also used to determine the level of government bonds the city and the province, said the speaker who knows this problem to the AP.

Barclays have admitted that their deposit numbers lower than actually for loaning between its bank, including during the financial crisis in 2008. The report was made so that Barclays looks healthier than the actual conditions.

UBS filed a report to regulators on July 31, and recalled that the institutions including the Attorney General was checking whether they and other banks were trying to manipulate Libor interest rates.

A spokesman for Barclays declined to comment further. Citigroup and JPMorgan Chase declined to comment.

(ang/ang)

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