Four banks face fresh rate probe
Four major European banks are being investigated over the alleged manipulation of the region's benchmark interest rate, as regulators suspect Barclays' traders of being the ringleaders of a circle that included Credit Argicole, HSBC, Deutsche Bank and Societe Generale, the Financial Times reports. The paper claims regulators are examining evidence of links between traders at all four banks and Barclays’ former 'euroswaps' trader Philippe Moryoussef. It comes as four British banks face investigation for alleged failings in anti-money laundering controls, following the scandal that engulfed HSBC earlier this week.