Reuters: US Dollar Report: EU Commission: follows interest rate investigations closely

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EU Commission: follows interest rate investigations closely Jun 28th 2012, 10:48 BRUSSELS, June 28 | Thu Jun 28, 2012 6:48am EDT BRUSSELS, June 28 (Reuters) - The executive EU Commission is following closely the global investigations into possible manipulation of key interest rates, the spokesman for the European Union's Competition Commissioner said on Thursday. "The Commission is indeed following very closely all the developments worldwide in the ongoing investigation run by several agencies into the possible manipulation of benchmark interest rates such as Euribor and Libor," spokesman Antoine Colombani told a regular news conference. "Our concern is that certain companies... may have violated EU antitrust rules that prohibit cartels and restrictive business practices," he said. "We are giving high priority to these cases." Switzerland, Canada and Japan - as well as the European Commission - are carrying out interbank lending investigations. British-based bank Barclays said on Wednesday it would pay $453 million to U.S. and British authorities to settle allegations that it manipulated key interest rates.

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