Bloomberg News

Austria Cooperates With Regulators on Euribor Probe, Presse Says

July 09, 2012

Austria’s Financial Markets Authority is cooperating with other European regulators to examine whether European lenders manipulated of the Euro Interbank Offered Rate, or Euribor, Die Presse reported, citing FMA spokesman Klaus Grubelnik.

While there are “no indications” of a manipulation, the regulators will look at this “very closely,” Grubelnik was cited as saying.

The probe, which has yet to start in Austria and was kicked off because of Barclays Plc (BARC)’s admitted rigging the London interbank offered rate, or Libor, as well as the Euribor, its equivalent in euros, will be of 43 European lenders including Erste Group Bank AG (EBS) and Raiffeisen Bank International AG (RBI), who both deny any wrongdoing, the Vienna-based paper said.

Erste always acted in line with requirements and denies any wrongdoing, spokeswoman Hana Cygonkova said by phone from Vienna. Raiffeisen “of course didn’t collude with others” in making entries into the Euribor system, Raiffeisen Zentralbank Oesterreich AG spokesman Andreas Ecker-Nakamura said by e-mail, rejecting any wrongdoing.

To contact the editor responsible for this story: Zoe Schneeweiss at zschneeweiss@bloomberg.net


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