Royal Bank of Scotland (RBS) and Barclays are among 13 international banks being sued by the National Credit Union Administration (NCUA) for LIBOR rigging. The banks are accused of manipulating LIBOR, the benchmark for setting interest rates, which resulted in a loss of income from investments and other assets held by five failed corporate credit unions. They include US Central, WesCorp, Members United, Southwest and Constitution. In a statement, NCUA said it would work to recover some of the funds lost by the credit unions."We have a responsibility to pursue recoveries through every available avenue against those who caused billions of dollars in losses to credit unions," NCUA Board Chairman Debbie Matz said."Some firms were manipulating international interest rates in a way that cost the five corporates to lose millions of dollars. Just as we are doing in our other suits, we are seeking to hold responsible parties accountable for their actions."In the lawsuit, which was filed in the Federal District Court in Kansas, the US regulator claims the banks violated federal and regional anti-trust laws. RBS, Barclays and UBS have so far been fined about $2.5bn to offset the losses.More than 40 lawsuits have been filed globally in relation to LIBOR rate manipulations, NCUA added. Shares in RBS were up 2.35% to 369.50p while Barclays rose 1.75% to 271p at 14:58 on Tuesday.RD