A number of banks are being investigated and could face sanctions after Barclays was fined £290m ($450m) for trying to manipulate interest rates at which banks lend to each other.

Regulators in Europe, the US and Asia have said that investigations into other banks are “ongoing”.

The UK’s Financial Services Authority said the early signs were that Barclays had not been the only firm involved.

Barclays has said its actions “fell well short of standards”.

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