Asset managers say banks conspired to manipulate LIBOR

04/18/2011 | Bloomberg

Three European asset-management firms claim that major banks worked together to manipulate the London Interbank Offered Rate. FTC Capital of Vienna, FTC Futures Fund of Gibraltar and FTC Futures Fund SICAV of Luxembourg said banks including HSBC Holdings, Barclays, Credit Suisse and JPMorgan Chase sold futures, swaps, derivatives and options based on Libor "at artificial prices." Regulators from the U.K. and the U.S. are investigating claims that banks colluded to manipulate LIBOR.

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