Showing posts with label collusion. Show all posts
Showing posts with label collusion. Show all posts

Wednesday, February 29, 2012

USA Conducting Criminal Probe of LIBOR Rate Setting by Banks


The LIBOR rate underpins loans to consumers, companies derivatives,  interest-rate swaps, floating- and fixed-rate interest payments. 
(Reuters) - The Justice Department is conducting a criminal probe into whether the world's biggest banks manipulated a global benchmark rate that is at the heart of a wide range of loans and derivatives, from trillions of dollars of mortgages and bonds to interest rate swaps, a person familiar with the matter said.