UBS has suspended some of its most senior traders in connection with an international probe into the possible manipulation of interbank borrowing rates, in the latest controversy to hit the bank since the financial crisis.
Regulators in North America, Europe and Japan have been investigating whether traders at big US and European banks colluded to influence the London interbank offered rate, or Libor, and other benchmark lending rates.
That probe has widened in recent weeks, with more than a dozen traders fired, suspended or placed on administrative leave at banks including UBS, Royal Bank of Scotland, Deutsche Bank, JPMorgan Chase and Citigroup in connection with the investigation.
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