LIBOR

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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The likely replacement for Libor may be just as prone to abuse

FCA Logo

Following the investigations into alleged manipulation of the London Interbank Offered Rate (Libor), in July the head of the Financial Conduct Authority (FCA), Andrew Bailey, announced plans to abandon this “unsustainable” benchmark, and transition to an alternative rate.

SocGen bankers indicted

Societe General Sign

Two Societe Generale bankers in France were charged in New York with rigging the London interbank offered rate as U.S. prosecutors press ahead with a seven-year international probe into manipulation of the benchmark rate despite a recent setback that makes it tougher for them to win cross-border cases.

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Red Warning Light

Trader said to tell boss: 'You don’t want to know'

A broker at Tullett Prebon was able to stop an internal review of a $53,000 payment made by derivatives trader Tom Hayes for help rigging Libor by telling his boss that 'you don’t want to know' about it, according to tapes played to jurors Monday.

Courtroom Gavel

Ex-Barclays trader freaked out

An ex-Barclays trader on trial for conspiring to rig Libor said he was "freaked out" by an internal interview in 2009 despite reassurances from his bosses that there was nothing wrong with influencing the rates submitted by colleagues.

Societe General Sign

SocGen bankers indicted

Two Societe Generale bankers in France were charged in New York with rigging the London interbank offered rate as U.S. prosecutors press ahead with a seven-year international probe into manipulation of the benchmark rate despite a recent setback that makes it tougher for them to win cross-border cases.

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