Comment on Citi was fined $425 million for rate manipulation — here are the secret trader transcripts

Citi was fined $425 million for rate manipulation — here are the secret trader transcripts

REUTERS/Peter NichollsThe US Commodity Futures Trading Commission (CFTC) fined Citibank a combined $425 million (£288.5 million) on Wednesday to settle various rate-fixing allegations between 2007 and 2012. The allegations centre around the manipulation of LIBOR, a measure of rates banks will lend to other banks at, and ISDAFIX, a measure used to set interest rates on swaps. While you might not have heard of these measures, the two benchmarks are used to set the price of products worth millions, if not billions, each day.

 

Comment On This Story

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Business News