Economy

xchrom

(108,903 posts)

30. South Korea banks in rate-rigging investigation

Wed Jul 18, 2012, 08:20 AM

Jul 2012

http://www.bbc.co.uk/news/business-18882294

A South Korea financial regulator has started an investigation into alleged interest rate rigging by some of the country's banks.

The Fair Trade Commission is looking at possible collusion over setting certificates of deposit (CD), used as a benchmark to set lending rates.

Kookmin, Shinhan, Woori, and Hana are the banks being investigated.

It follows the Libor-rigging scandal involving Barclays and possibly several other banks.

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