The rate fixing scandal has taken an international shape, as New York attorney-general Eric Schneiderman has sent subpoenas to Deutsche Bank, Citigroup, JPMorgan Chase, Royal Bank of Scotland, Barclays, HSBC and UBS in the latest probe.
New York authorities are probing the role of each bank, in which they rigged the Libor benchmark interest rate, which is used as a reference by banks, businesses and private borrowers globally.
The probe agencies also enquiring that any citizen sustained losses due to the Libor and Euribor interbank rate fixing between 2005 and 2009.
Financial Times reported citing the US Office of the Comptroller of the Currency, there are at least 900,000 outstanding US home loans indexed to Libor that were originated from 2005 to 2009, the period the key lending gauge may have been rigged.
The US and the UK regulators have imposed $452m penalty against Barclays Bank over its alleged role in rate manipulating scandal, which is understood crucial to manage the operation of short-term financing and global markets.
