Interest Rate, Rate-rigging | featured news

DealBook: U.S. Builds Criminal Cases in Libor Rate-Fixing Scandal

The prospect of criminal cases related to the Libor scandal is expected to rattle the banking world and provide a new impetus for financial institutions to settle with the authorities.

 

Barclays flagged Libor problems to Fed in 2007

Libor

Barclays alerted U.S. regulators as far back as 2007 to concerns that banks were rigging benchmark interest rates, according to documents released on Friday, but policymakers on both sides of the Atlantic did not appear to take decisive action, underscoring the chaos of the financial crisis.

 

Bank of England says took Geithner Libor views on board

Timothy Geithner

The Bank of England confirmed on Friday it had received U.S. recommendations to overhaul the Libor benchmark at the heart of a global rate-rigging scandal, saying it had passed them on to the banking group responsible for the rate... The Bank of England confirmed on Friday it had received U.S. recommendations to overhaul the Libor benchmark at the heart of a global rate-rigging scandal, saying it had passed them on to the banking group responsible for the rate.

 

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