Banking

New York Subpoenas Banks over Libor Manipulation

AG targets seven major lenders.

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New York Attorney General Eric Schneiderman has sent subpoenas to a number of major banks as part of his office's probe into the manipulation of Libor, the world's benchmark interest rate, according to a source with knowledge of the investigation.

Barclays (BCS), Citigroup (C, Fortune 500), Deutsche Bank (DB), HSBC (HBC), JPMorgan Chase (JPM, Fortune 500), Royal Bank of Scotland (RBS) and UBS (UBS) have all received subpoenas, according to the source.