STOCK MARKET WATCH -- Thursday, 28 June 2012

[Eugene]

52. Four more banks fingered in interest-rate investigation

Source: Associated Press

Four more banks fingered in interest-rate investigation

Updated 17m ago

LONDON (AP) – Four more global banks are being investigated for the alleged financial market manipulation that led to fines of $453 million against Barclays Bank, British Treasury chief George Osborne said Thursday, causing stocks in those groups to plummet.

Osborne said Citigroup in the U.S., Switzerland's UBS, and Britain's HSBC and Royal Bank of Scotland were also being probed for allegedly providing false figures on key interest rates upon which mortgages and consumer loans are priced.

On Wednesday, U.S and British regulators imposed the fines on Barclays for manipulating the interest rate — the London interbank offered rate (LIBOR) — to its advantage between 2005 and 2009.

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Read more: http://www.usatoday.com/money/industries/banking/story/2012-06-28/britain-bank-probe/55883264/1