Libor scandal overshadows UBS Q2 results

ZURICH, July 31 (Reuters) – Swiss bank UBS (UBSN.VX) will be scrutinised on Tuesday for what it says about Libor interest rate manipulation, overshadowing an expected increase in first-quarter profit.

Swiss regulator FINMA said on Monday it is questioning UBS and Credit Suisse (CSGN.VX) in an investigation over possible Libor interest rate rigging.

“We are actively going after information that will enable us to make a judgment on what has happened,” a FINMA spokesman told Reuters on Monday.

The two banks are not under formal investigation as Swiss banks are legally obliged to cooperate with FINMA, which regulates the country’s banks.

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