US Senate banking committee 'concerned' at Barclays rate-rigging scandal

The United States' Senate Banking Committee Chairman Tim Johnson has expressed his concerns over the manipulation of Libor rates, following the Barclays bank rate-rigging scandal.

I am concerned by the growing allegations of potential widespread manipulation of Libor and similar interbank rates by some financial firms.

At my direction, the Committee staff has begun to schedule bipartisan briefings with relevant parties to learn more about these allegations and related enforcement actions.

It is important that we understand how any manipulation may impact American consumers and the U.S. financial system.

– Senate Banking Committee Chairman Tim Johnson