Nine more banks have received subpoenas in connection with a probe into alleged widespread interest-rate manipulation by banks, a person familiar with the investigation said.
The probe, a joint effort by the offices of New York Attorney General Eric Schneiderman and Connecticut Attorney General George Jepsen, could lead to civil enforcement action related to breaches of antitrust and fraud laws.
The subpoenas, which were issued in August and September but haven't been previously reported, bring the total number of subpoenas in the case to 16. The banks involved in the probe include most members of the panel that helps set the dollar London interbank offered rate.
The investigation by the state prosecutors is part of a global probe, in which more than a dozen federal and other regulators across three continents are looking into allegations that several banks rigged Libor.
The nine banks that received subpoenas in August and September were: Bank of America Corp., Bank of Tokyo Mitsubishi UFJ, Credit Suisse Group AG, Lloyds Banking Group PLC, Rabobank Groep NV, Royal Bank of Canada, Société Générale, Norinchukin Bank and West LB AG, according to the person familiar with the investigation.
