Lloyds Bank starts internal forex trading review

LONDON Wed Nov 6, 2013 6:24am EST

LONDON Nov 6 (Reuters) - The UK's Lloyds Banking Group said it has opened an internal probe into its own currency trading after regulators started investigating possible manipulation in the market.

"We are aware that a number of regulatory and enforcement authorities are investigating foreign exchange trading and, as a result, we believe it is prudent to review our own foreign exchange trading over recent years and have commenced such a review," the bank said in a statement on Wednesday.

It said it would report anything it finds to the relevant authorities and assist them as requested.

Several banks, including Barclays and UBS , have said they were cooperating with regulators investigating possible manipulation.

At this stage, Lloyds is not part of the investigation, a person familiar with the matter said.