Citi Says Not Under Probe For Interest Rate Fixing

KUALA LUMPUR, June 30 (Bernama) -- More global banks are being investigated for alleged financial market manipulation after Barclays was fined US$453 million, but Citibank has clarified that it is not one of them. “Citi has confirmed with U.K. government officials that it is not under investigation in the UK for Libor-related issues," Citibank Bhd said in a statement here on Friday. Among the global banks said to be under investigation are Britain's HSBC and Royal Bank of Scotland and Switzerland's UBS for allegedly providing false figures on key interest rates upon which mortgages and consumer loans are priced. The United States and British authorities on Wednesday fined Barclays for manipulating the interest rate, the London interbank offered rate (LIBOR), to its advantage between 2005 and 2009. -- BERNAMA