Danish Bank Group Dismisses Libor Parallel as Cibor Probed
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The Danish Bankers Association will investigate whether the Copenhagen interbank offered rate was manipulated as it dismisses parallels with the scandal over the equivalent London-based rate that led to the departure of Barclays Plc Chief Executive Officer Robert Diamond.
The results of the Cibor probe are due to be released by the “end of the summer” and will be based on interviews with all stakeholders, including pension funds and mortgage lenders, Joergen A. Horwitz, the group’s director, said in an interview.