A further nine banks have received subpoenas relating to the investigation into alleged manipulation of the London interbank offered rate (LIBOR).
Eric Schneiderman, New York attorney-general, and George Jepsen, Connecticut attorney-general, issued subpoenas during August and September to Bank of America (BofA), Bank of Tokyo Mitsubishi, Credit Suisse, Lloyds, Rabobank, Royal Bank of Canada, Société Générale (SocGen), Norinchukin Bank and WestLB, but these have not been reported before now.
The latest actions bring the number of banks under examination by the two state prosecutors to 16; subpoenas having previously been issued to Deutsche Bank, Citigroup, JP Morgan Chase, RBS, Barclays, HSBC and UBS.
has already paid US$452.5m to US and UK regulators as part of a settlement in which it admitted that executives and traders had manipulated LIBOR. The deal was followed by the resignation of chief executive officer (CEO)
Forecasts for 2016-2020 place Africa as the second fastest growing region in the world (at a compound annual growth rate (CAGR) of 4.3%), just below Emerging Asia.
Sentiment in the financial services sector deteriorated in the three months to September, as firms digested the challenges of lower interest rates and the uncertainty caused by the vote to leave the European Union (EU), according to the latest CBI/PwC Financial Services Survey.
However, a London summit on the industry’s introduction of the technology cautions that testing and acceptance are still at an early stage and firms should proceed with caution.
The proposals of both US presidential candidates could shake up operating conditions in several sectors, reports the credit ratings agency.