Italy probe on Euribor claims

City A.M. Reporter
ITALIAN prosecutors in the town of Trani are investigating five foreign banks for possible manipulation of Euribor, the euro-priced counterpart of scandal-hit Libor bank-to-bank lending rates, court sources said yesterday.

The five banks are said to be Deutsche Bank, Barclays, Royal Bank of Scotland, HSBC and Societe Generale, according to the court sources.

The probe was opened in July after complaints from consumer groups.

The Libor investigation in the UK has rocked many of the top banks.