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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16 firms sued over Libor

Bank Of America & Credit Suisse - Canary Wharf

Bank of America, Citigroup and Credit Suisse were among 16 of the world’s biggest banks sued by the U.S. Federal Deposit Insurance for allegedly manipulating the London interbank offered rate from 2007 to 2011.

Three Barclays Libor traders charged

Barclays Canary Wharf

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.

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Handcuffs

LIBOR Manipulation Will Become A Criminal Offence

Tim Strong, a partner in the financial disputes team at international law firm Taylor Wessing says new proposals from the Treasury at cracking down on LIBOR misconduct could be far-reaching for the banking sector - and will introduce tougher sanctions on the UK than the rest of Europe.

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.

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