Libor, Euribor Antitrust Probes at ‘Advanced Stage,’ EU Says

European Union antitrust probes into possible fixing of the Libor and Euribor benchmark lending rates are “at an advanced stage,” an EU official said today.

Regulators suspect that “major banks and brokers manipulated the relevant benchmarks to their benefit,” Eric Van Ginderachter, the European Commission’s director of cartels, said at a Brussels conference. The probes are “clearly a top priority” for the antitrust authority, he said.