July 26, 2012

photoGeithner speaks at a Senate Banking, Housing and Urban Affairs hearing.

Treasury Secretary Timothy Geithner on Thursday said he did not know whether three major US banks were involved in the manipulation of a key benchmark borrowing rate.

Answering Senate Banking Committee questions about Bank of America, Citibank and JP Morgan Chase’s possible roles in the global Libor fixing scandal, Geithner referred lawmakers to investigators.

Asked whether he was aware of possible wrongdoing, Geithner said: “We don’t know that. But I think that is a question you need to refer to the enforcement agencies.”

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