UBS, BNP, RBS get subpoenas in U.S. Treasuries probe – Bloomberg

U.S. federal prosecutors subpoenaed several banks last month as part of a criminal investigation into possible manipulation of the U.S. Treasuries market, Bloomberg reported on Monday.

The banks include UBS Group AG (>> UBS Group AG), BNP Paribas SA (>> BNP Paribas) and Royal Bank of Scotland Plc (>> Royal Bank of Scotland Group plc), Bloomberg reported, citing people familiar with the matter.

A series of class action lawsuits have accused various banks and brokerages of conspiring to manipulate U.S. Treasury auctions.

The lawsuits have alleged that the banks colluded to manipulate Treasury Department auctions and the pricing of Treasury securities, as well as derivative products such as futures, whose value is pegged to the Treasury.

Read on.

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