Fannie Mae sues 9 giant banks over Libor losses

New York City (AFP) - Fannie Mae Thursday sued nine giant banks plus the British Bankers Association over some $800 million in losses due to alleged rate-rigging manipulation in the latest fallout from the Libor scandal.

Fannie Mae, citing recent settlements involving four of the banks, said it lost $332 million in interest-rate swaps with the defendant banks, with the other losses in trades with other counterparties.

Source: http://news.yahoo.com/fannie-mae-sues-9-giant-banks-over-libor-185642779.html
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