NEW YORK, May 23 (Reuters) - A federal appeals court onMonday revived antitrust claims in private U.S. litigationaccusing global banks of conspiring to manipulate the Liborbenchmark interest rate.
The 2nd U.S. Circuit Court of Appeals in Manhattan said alower court judge erred in dismissing the antitrust portion ofthe case on the ground that the plaintiffs failed to allege harmto competition.
Libor underpins hundreds of trillions of dollars oftransactions and is used to set rates on credit cards, studentloans and mortgages.
Investors accused big banks of suppressing Libor during thefinancial crisis to boost earnings or make their finances appearhealthier. (Reporting by Jonathan Stempel in New York)