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.

 Page 2 

LATEST

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.

HOT LIST

Bleak Day For British Banking As Libor Arrests Follow Record Fine For HSBC

The reputation of Britain's banking industry took a fresh battering when HSBC was slapped with a record $1.9bn (£1.2bn) fine by US regulators for money laundering and sanctions busting, the first arrests were made in the Libor-rigging investigation, and nationalised Northern Rock handed the taxpayer a £270m bill to compensate customers affected by a mistake in its paperwork.

FEATURED