Who Else Is Under Investigation for Libor Manipulation?

[MindMover]

Barclays was the first bank to pay for its role in the manipulation of interest rates during the financial crisis, but given the criminal and civil investigations under way on three continents, it probably won’t be the last.

Patience, grasshopper. Additional settlements are expected in the coming months, and the Barclays mea culpa creates an interesting wrinkle: Typically in civil settlements with U.S. regulators, a company “neither admits nor denies” wrongdoing. Will the next bank to settle also be forced to own up? How will the fine it pays stack up to Barclays’s record-setting $453 million settlement?

Here’s a list of 15 financial institutions, in alphabetical order, currently under investigation in connection with the rate-setting scandal, according to regulatory filings and regulators’ statements:

http://blogs.wsj.com/deals/2012/07/09/who-else-is-under-investigation-for-libor-manipulation/

[leveymg]

1. See the article that says the NY Fed knew about this as far back '07.

This implicates Geithner, who was head of the NY Fed at the time.

New York Fed Says It Knew Barclays Was Underreporting Libor
Caroline Salas Gage, ©2012 Bloomberg News
Published 08:57 a.m., Friday, July 13, 2012

July 13 (Bloomberg) -- The Federal Reserve Bank of New York said it became aware that Barclays Plc was underreporting borrowing costs for the London interbank offered rate as early as 2007.

A Barclays employee explained to a New York Fed staffer in April 2008 that “Barclays was underreporting its rate to avoid the stigma associated with being an outlier with respect to its LIBOR submissions, relative to other participating banks,” the New York Fed said in a statement posted today on its website.

“The Barclays employee also stated that in his opinion other participating banks were also under-reporting their LIBOR submissions.”


http://www.sfgate.com/business/bloomberg/article/New-York-Fed-Says-It-Knew-Barclays-Was-3705086.php