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Benchmark-rigging probes are ongoing - U.S. attorney general

Wednesday, 4 Dec 2013 | 11:51 AM ET

WASHINGTON, Dec 4 (Reuters) - The record fines handed down by EU authorities on Wednesday for rigging financial benchmarks are unlikely to be the last action on a subject that has become a major liability for banks, U.S. Attorney General Eric Holder said on Wednesday.

In an interview with Reuters, Holder, the chief U.S. law enforcement official, said that U.S. investigators and their European counterparts are continuing to look at possible manipulation of rate-setting. "I doubt this is going to be the last development on the issue," he said.

Wednesday's fines of 1.71 billion euros ($2.3 billion) for rigging rates such as the London interbank offered rate (Libor) were the highest antitrust penalties ever imposed by EU authorities.

(Reporting by David Ingram; Editing by Howard Goller)