Comco has opened an investigation into 12 banks to determine whether there was any collusion to manipulate Libor and Tibor. The twelve banks include UBS, Credit Suisse, Bank of Tokyo- Mitsubishi UFJ, Citigroup, Deutsche Bank, HSBC, JP Morgan Chase, Mizuho Financial Group, Rabobank, Royal Bank of Scotland, Société Génerale, and Sumitomo Mitsui.
The probe was opened after Comco received an application for its leniency program.
Source: Bloomberg
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