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Germany: Financial watchdog amps-up Euibor rate manipulation probe

By  |  January 28, 2013

Germany’s financial authority Bafin have reportedly stepped-up their investigation, which began last year, into the possible manipulation of Euribor, or the euro interbank offered rate. The revamped investigation now includes a specific probe into German banks, said a spokesperson for the authority. Bafin began its Euibor investigation in the wake of the LIBOR scandal. The escalation of the investigation, which now includes what Bafin calls a “special probe” into German banks, will include on-side scrutiny by auditors part of and apart from Bafin. The spokesperson declined to name which banks are now under investigation.

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