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The Libor scandal was a series of fraudulent actions connected to the Libor (London Inter-bank Offered Rate) and also the resulting investigation and reaction. Libor is an average interest rate calculated through submissions of interest rates by major banks across the world.
The LIBOR Scandal was a highly-publicized scheme in which bankers at several major financial institutions colluded with each other to manipulate the London Interbank Offered Rate...
Beginning in 2012, an international investigation into the London Interbank Offered Rate, or Libor, revealed a widespread plot by multiple banks—notably Deutsche Bank, Barclays, UBS, Rabobank ...
Libor’s lost: inside the scandal that shook the City. An account of how an obscure financial benchmark was rigged reads at times like a thriller. Former UBS trader Tom Hayes at Southwark Crown...
Richard Herring. Written By Knowledge at Wharton Staff. When regulators in the United Kingdom and United States announced a settlement with Barclays bank over its manipulation of LIBOR, the benchmark interest rate used around the world, there were plenty of reasons for jaws to drop.
Here’s a timeline laying out how the New York Fed and the Bank of England handled evidence of Libor manipulation back during the financial crisis. To see the relevant documents, click on the ...
Exonerated trader sues Deutsche Bank over Libor rigging allegations. Scandal forced some of the world’s largest financial institutions to pay billions in fines. October 31 2022.
Two traders jailed for rigging interest rates were the original whistleblowers of the scandal, the BBC has learned. Leaked audio recordings reveal Peter Johnson and Colin Bermingham alerted the...
In the end, roughly $10 billion in fines were meted out across the financial industry over accusations of LIBOR rigging, which led to efforts to move away from the tainted benchmark.
The scandal around the setting of Libor and Euribor broke in 2012 just after the financial crisis, as a light was shone on the workings of the City of London. The subsequent prosecutions in...