More of the 16 banks said to be under investigation for allegedly manipulating the London Interbank Offered Rate have been identified. In addition to UBS, which this week disclosed it had received a subpoena from the U.S. Securities and Exchange Commission in the matter, Barclays, Citigroup, WestLB, Lloyds Banking Group and Bank of America are said to have also received notification. Legal observers said the central issue in the SEC probe is whether the banks’ disclosure to the market may have been misleading.
