Mitsubishi UFJ Suspends Third London Banker Over Libor Probe
Tokyo. Bank of Tokyo-Mitsubishi UFJ (BTMU) has suspended a third London-based banker in connection with a probe by UK authorities into the rigging of interbank lending rates.
“One banker has been ordered to stay home,” said a BTMU spokesman, citing an ongoing investigation by authorities. He declined to comment further.
The banker, who works at BTMU’s London office and was in charge of submitting Libor rates, is being questioned by the Financial Services Authority after allegedly being contacted by others to participate in the rate manipulation after 2008, a source familiar with the matter said.
In July, the bank, a core unit of Mitsubishi UFJ Financial Group, suspended two London-based traders due to the probe into the manipulation of interbank lending rates, including the London Interbank Offered Rate (Libor).
The bank said at the time that their suspension was not connected with their conduct at the Japanese bank.
The traders worked together for years at Dutch lender Rabobank before joining BTMU, according to the Financial Services Authority register.