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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Bank of England blasts Lloyds for rigging bailout funding

Bank Of England Building

The Libor-rigging scandal took a new twist on Monday when Lloyds Banking Group faced accusations of unlawful behaviour after being ordered pay compensation to the Bank of England for manipulating the fees it paid for emergency funding during the height of the banking crisis.

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Barclays Canary Wharf

Three Barclays Libor traders charged

Three former Barclays Libor traders were charged by a U.K. prosecutor in a London court Wednesday in the latest criminal action in a two-year investigation of the interest rate benchmark.

Barclays Bike

Ex-Barclays traders sue over legal fees

Three former Barclays traders charged in the U.K. with manipulating Libor sued the bank in a U.S. court claiming it’s obligated to keep paying their legal fees under a law protecting whistle-blowers.

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