Bafin, the German financial market regulator, have not come up with any proof that the directors of the German Bank are behind the manipulation of the standard interest rates, according to a top official of Bafin that the Wall Street Journal Deutschland had spoken with over the weekend.
Raimund Roeseler, Head of Banking Supervision at Bafin said, "We have no indication of any systematic criminality involving management board members up to now."
Roeseler also said in an interview that was published at the online site of the paper, "Our findings so far show it was the actions of individual traders."
Together with other regulators, Bafin have been seriously investigating if banks were manipulating the offered rate of London inter-banking interest known as Libor or its counterpart at the euro zone known as Euribor. These are the rates of how much banks pay to borrow from each other and are basis for lending rates.
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