Japan’s banking lobby said it may review lenders’ interest-rate submissions and South Korean regulators started a probe into possible collusion in money markets, amid widening global scrutiny of key lending rates following the Libor scandal in the U.K.
The Japanese Bankers Association said it’s considering looking at as many as 16 banks to confirm that they follow guidelines for submitting yen-denominated Tokyo interbank offered rates. In South Korea, the antitrust agency expanded an investigation today into whether local brokerages kept certificate of deposit rates artificially high.”
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