Bank of America, the second largest U.S. bank, has received subpoenas from the U.S.Justice Department, the Commodity Futures Trading Commission, and U.K. Financial Services Authority requesting information about the company’s possible role in the rigging of a key international lending benchmark, LIBOR. Regulators have queried at least a dozen banks worldwide about their roles in… Read more »
Posts Tagged: LIBOR
The Barclays Scandal (AKA LIBOR LIAR)
Questions about the close links between banking regulators and the financial institutions they oversee will come into focus on Monday, when a top official at Britain’s central bank appears before a parliamentary committee here looking into the manipulation of global interest rates. Questions: 1. Explain the Libor rate. 2. As a result of this scandal,… Read more »