U.S. mortgage finance company Fannie Mae sued nine of the world's largest banks on Thursday, accusing them of colluding to manipulate interest rates and seeking more than $800 million of damages.
In a complaint filed in the U.S. District Court in Manhattan, the company accused the banks of manipulating the London Interbank Offered Rate, or Libor, as well as other interest rate benchmarks.
Fannie Mae said this manipulation caused it to lose money on interest-rate swaps and other transactions. It is also seeking punitive damages.
Smaller rival Freddie Mac filed a similar lawsuit in March against more than a dozen banks.