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WASHINGTON, Feb 12 (Reuters) - American and Britishregulators are likely to charge several banks with rigginginterest rates, including Citigroup, the third-largest U.S.bank, and London-based HSBC Holdings, the Wall Street Journalreported on Friday.
The U.S. Commodity Futures Trading Commission and the U.K.Financial Conduct Authority were preparing a final round ofcivil charges against the banks for rate manipulation in theLibor scandal, the newspaper reported, citing people close tothe investigation.
The Journal said the CFTC was still investigating J.P.Morgan Chase, the largest American bank by assets, but that maynot lead to charges. U.K. regulators said last year they droppedtheir probe of J.P. Morgan.
U.S. and British regulators are leading a seven-yearinvestigation into the manipulation of Libor, or the Londoninterbank offered rate.
Libor is a short-term rate financial institutions chargeeach other for loans that is calculated based on submissions bya panel of banks. Hundreds of trillions of dollars in short-terminterest rates, swaps and other financial products are pegged toLibor. (Reporting by Doina Chiacu; Editing by Eric Walsh and DavidGregorio)