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Friday, 10 February 2012
Rate Fixing Probe Continues
None regulatory agencies are involved in a global probe into the manipulation of formal benchmark interest rates.
It has emerged that Citigroup has booked a $ 50 million loss resulting from positions created by two traders in Tokyo. These traders have subsequently left the bank. They are thought to be Thomas Hayes and Chris Cecere. The bank has been sanctioned by the Japanese Financial Services Agency.
An ex-Barclays employee, Philippe Moryoussef is thought to be under investigation in connection with attempts to manipulate LIBOR.
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