ZURICH, July 16 (Reuters) - Credit Suisse does not expect a “material” impact from a wide-ranging regulatory probe into allegations of interest rate rigging, which also includes Swiss rival UBS as well as many other global banks.
“While these issues are complex and the regulatory reviews of the industry are ongoing, we do not currently believe that Credit Suisse has any material issues in this matter,” Credit Suisse spokesman Marc Dosch said.
The statement comes after the New York Times reported on Saturday that the U.S. Justice Department is building criminal cases against several banks, following a $450 million settlement with Barclays Plc over the manipulation of the London Interbank Offered Rate, or Libor.
Credit Suisse, a member of dollar, euro and Swiss franc Libor-setting panels, reiterated that it is cooperating with the various regulatory probes into the rate-setting allegations. (Reporting By Katharina Bart)