Authorities in the United States and Europe are likely to arrestindividual traders in coming weeks on criminal charges of colludingto manipulate Libor, according to Reuters, which cites defenseattorneys who represent traders.

The criminal investigations are occurring at the same time asregulatory investigations into how the banks handled Libor.Information gathered in the criminal investigations of traderscould add to regulators' understanding of what occurred at thebanks. But the criminal investigations won't alter how regulatorstreat the banks.

Banks whose traders are reportedly under investigation includeBarclays, UBS and Citigroup.

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