Bloomberg News

Italian Bankers Call for Stricter Rules on Investment Banks

July 11, 2012

Italy’s association of banks called for stricter rules on investment banks after Barclays Plc (BARC) admitted to manipulating the London interbank offered rate, the global benchmark for $360 billion of securities.

“How is it possible that key indicators for commercial banks and their clients are determined in a fraudulent manner by non-commercial banks?” said Giuseppe Mussari, chairman of the Italian banking association ABI, today in Rome.

To contact the reporter on this story: Andrew Frye in Rome at afrye@bloomberg.net.

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net


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