Lloyds suspends traders

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The Independent Online

Lloyds, the state-backed lender, is believed to have suspended at least two traders as it investigates possible interest rate manipulation.

Two London-based derivatives traders – working on the foreign exchange and interest rate desks – were sent home about two months ago, according to Bloomberg reports.

Royal Bank of Scotland, Citigroup and Deutsche Bank have all suspended or dismissed traders pending investigations into the possible manipulation of the benchmark Libor interest rates used by banks.