August 9, 2012 / 9:56 AM / 6 years ago

Commerzbank finds no signs of wrongdoing in Euribor

FRANKFURT, Aug 9 (Reuters) - Germany’s second-biggest lender, Commerzbank, said it has found no wrongdoing by its staff in delivering data for the Euro Interbank Offered Rate (Euribor), which is used as a reference for trillions of euros in euro-denominated loans and debt instruments.

“We have used the Euribor debate as an opportunity to review our internal procedures,” Chief Financial Officer Stephan Engels said in a conference call on Thursday.

“According to our current findings, we see no evidence of irregularities,” he said, adding that the bank has responded to requests for information from regulators.

Several banks are currently under investigation by EU antitrust regulators for suspected rigging of euro interest rates, the benchmark used when pricing bank lending in euros. (Reporting by Arno Schuetze)

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