Canada investigating some banks as LIBOR probe widens
http://www.reuters.com/article/2012/02/15/canada-liborprobe-idUSL4E8DF16J20120215
Canada's Competition Bureau is investigating certain financial firms as part of a widening global probe into how banks set key interbank lending rates, according to a statement from the agency.
Alexa Keating, a spokeswoman for Canada's Competition Bureau, said in a statement late on Monday that the agency is currently investigating "alleged collusive conduct" into the setting of yen LIBOR rates.
"The Ontario Superior Court granted Section 11 orders based on evidence that there are reasonable grounds to believe that certain parties in the industry have engaged in activities contrary to the conspiracy provision of the Competition Act," Keating said.
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However, in a separate report published late on Tuesday, the Wall Street Journal said the Canadian affiliates of HSBC Holdings PLC, Royal Bank of Scotland Group PLC , Deutsche Bank AG, JPMorgan Chase & Co and Citigroup Inc were targeted by the agency.