Two ex-Rabobank traders have been charged by the US Department of Justice with manipulating the Libor rate.
Europe’s top banking regulator is cracking down on major banks, warning them they should not try to get around the EU’s cap on bonuses by handing their staff extra payments.
The City regulator was closing in on six banks at the centre of alleged rigging of the foreign exchange market in London on Friday, which could face fines totalling up to £2 billion.
UBS has said it may be hit with 'material' penalties after authorities investigating alleged manipulation of foreign exchange markets started settlement talks.
Banks handing staff “allowances” to circumvent Brussels’ bonus cap face close scrutiny of their pay deals as a result of new guidelines being drawn up by Europe’s top banking regulator.
Under proposals, bankers or traders with the same job description would receive the same allowance, regardless of individual performance.
Credit Agricole’s complaint that European Union regulators showed bias in their rate-rigging probe is under investigation by the EU’s ombudsman.
Regular readers of Bank Return, the Bank of England’s weekly summary of its assets and liabilities, can probably be counted only in the dozens these days. But it was not always so.