London At Night

LIBOR, the London Interbank Offered Rate, is the average interest rate estimated by leading banks in London that they would be charged if borrowing from other banks.

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Former trader files appeal over 'London Whale' probe

Beached Whale

A former JPMorgan trader has filed an appeal with a London tribunal court to challenge civil findings made by Britain's financial watchdog against the bank over the 'London Whale' debacle of 2012, the Financial Times reported on Sunday, citing tribunal records.

Top firm cuts CEO bonus after fine

Pair Of Scissors

ICAP cut CEO Michael Spencer’s bonus 75% after profit missed targets and the interdealer broker paid a fine to settle a probe by British and U.S. regulators into Libor-rigging.

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Rate-Fixing Settlements Are Just Tip of the Iceberg

In total RBS, Barclays and UBS will pay nearly $3 billion in fines stemming from the multi-year practice of artificially suppressing these benchmark interest rates, a practice that spanned the financial crisis and beyond. While the fines vary, the charges are becoming more egregious.