Libor probe spurs witness call-up at Citigroup and Deutsche Bank

The banks, members of the panel that sets the Libor interbank offered rate, were asked to appear voluntarily for the interviews in London in April with the FSA, according to people close to the situation, Bloomberg reports. The U.S. Department of Justice, Securities and Exchange Commission and Commodity Futures Trading Commission may be investigating whether banks colluded to artificially reduce Libor. Libor rates, a benchmark for more than $350trn of financial products worldwide, are set daily by the British Bankers' Association based on data from banks reflecting how much it would c...