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Germany: Mortgage bank Westimmo denies LIBOR involvement

 |  October 1, 2013

Following reports that US credit union regulator NCUA is investigation 13 banks for their involvement in the global LIBOR scandal, Germany-based mortgage bank Westimmo, named as one of the thirteen being investigated, denied any involvement in the interest rate benchmark manipulation.

In response to the reports, the bank, once a part of the now-defunct WestLB, said Tuesday it would rigorously defend any accusations that come its way.

While WestLB was once a member of the LIBOR panel, Westimmo says it never played such a role. WestLB was broken up as part of an agreement made with the European Commission to receive state aid.

Full Content: Reuters

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