NEW YORK — JPMorgan Chase & Co. and Barclays PLC are among seven banks subpoenaed in New York and Connecticut’s investigation into alleged manipulation of Libor, according to a person familiar with the matter and company filings.
Subpoenas were sent in recent weeks to five of the banks, Deutsche Bank AG, Royal Bank of Scotland Group, and HSBC Holdings PLC, in addition to JPMorgan and Barclays, said the person. Citigroup Inc. and UBS AG received subpoenas earlier this year as part of the investigation.
New York Attorney General Eric Schneiderman and Connecticut Attorney General George Jepsen are jointly investigating alleged manipulation of the London interbank offered rate by lenders. RBS, UBS, Lloyds Banking Group, and Deutsche Bank are among the lenders regulators in Europe, Asia, and the United States are investigating. The United States is conducting a criminal investigation.
Confidence in Libor, a benchmark for financial products valued at $360 trillion worldwide, has been dented by Barclays’s admission that it submitted false London and euro interbank offered rates. Robert Diamond resigned as Barclays’s chief executive after the bank was fined $454 million.
The investigation by Schneiderman and Jepsen could broaden to include additional banks, said the person.
Spokeswomen for Schneiderman and Jepsen declined to comment on the subpoenas.
Spokeswomen for RBS and Deutsche Bank said the banks continue to receive requests from various regulators and are cooperating.
New York-based Citigroup said in a regulatory filing that subsidiaries “have received additional requests for information and documents from various U.S. and non-U.S. governmental agencies, including the offices of the New York and Connecticut attorneys general.”
Spokespeople for JPMorgan, HSBC, and Barclays declined to comment on the subpoenas.