LIBOR

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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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Regulator bans ex-RBS libor submitter

The Financial Conduct Authority (FCA) has banned Paul White from performing any function in relation to any regulated financial activity and publicly censured him. Were it not for Mr White’s serious financial hardship, the FCA would have fined him £250,000 ($357,575).

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