Italian Bankers Call for Stricter Rules on Investment Banks

July 11 (Bloomberg) -- Italy’s association of banks called for stricter rules on investment banks after Barclays Plc admitted to manipulating the London interbank offered rate, the global benchmark for $360 billion of securities.

“How is it possible that key indicators for commercial banks and their clients are determined in a fraudulent manner by non-commercial banks?” said Giuseppe Mussari, chairman of the Italian banking association ABI, today in Rome.

To contact the reporter on this story: Andrew Frye in Rome at afrye@bloomberg.net.

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net