U.S. SEC, CFTC seek Japan’s help in Tibor probe: Nikkei

The U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission have asked Japanese banks and regulators for help in checking whether the Tokyo interbank offered rate, known as Tibor, was manipulated by U.S. banks and others, the Nikkei business daily said.

The U.S. regulators are requesting an archive of sensitive information over the years, including how the banks calculated Tibor and their e-mails on reporting the rate, the report said on Saturday, citing several unnamed international financial sources.

The U.S. watchdogs are also investigating whether Japan’s so-called “megabanks” have manipulated Libor, a benchmark that underpins transactions worth trillions of dollars, the report added.

Source:Yahoo Finance News