Britain’s main financial regulator said today that a key benchmark interest rate will be phased out by the end of 2021. LIBOR, the London Interbank Offered Rate, was badly damaged a few years ago in a multibillion dollar rate-rigging scandal.…
The BBC has obtained a secret recording that links the bank to Libor rigging.
LIBOR is the interest rate that sets other interest rates. 'The Spider Network' tells how a British banker nudged it to make a lot of money.
JP Morgan and Deutsche Bank are prohibiting the use of some chat rooms amid ongoing investigations of currency manipulation. The move comes after UBS’s investment banking arm did the same last month.
The British government is trying to prohibit The Wall Street Journal from publishing the names of trades implicated in the LIBOR scandal.
The London Interbank Offered Rate, explained.
First there was the rigging of the interest rate known as LIBOR. Now there may be collusion on currency exchange rates.