The attorneys general of New York and Connecticut are conducting an investigation tied to alleged manipulation of the London interbank offered rate, adding to probes by authorities in the U.S. and U.K.
New York Attorney General Eric Schneiderman and Connecticut Attorney General George Jepsen are working together in the probe, James Freedland, a Schneiderman spokesman, said in an e- mail yesterday.
"The New York and Connecticut attorneys general have been looking into these issues for over six months, and will continue to follow the facts wherever they lead," he said. The two are investigating whether states incurred losses as a result of manipulation, he said.
Barclays Plc, Britain's second-biggest bank by assets, last month agreed to pay a record 290 million pounds ($451 million) in fines for submitting false rates for the benchmark. Royal Bank of Scotland Group Plc, UBS AG, Lloyds Banking Group Plc and Deutsche Bank AG are among the lenders regulators in Europe, Asia and the U.S. are investigating.
Barclays traders involved in allegedly manipulating rates between 2005 and 2007 may be charged by U.S. prosecutors before the Sept. 3 Labor Day holiday, according to a person familiar with the U.S. Justice Department's investigation.
The Wall Street Journal earlier reported the involvement of New York and Connecticut.