Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Rabobank fined $1bn over Libor
Source: BBC
29 October 2013 Last updated at 13:50 GMT
Rabobank fined $1bn over Libor
Dutch bank Rabobank says it has agreed to pay fines of 774m euros ($1bn; £662m) imposed by US, UK and Dutch regulators over the Libor interest rate-fixing scandal.
The bank added that its chief executive, Piet Moerland, had stepped down.
Libor rates are used to set trillions of dollars of financial contracts.
[font size=1]-snip-[/font]
Regulators have been investigating the manipulation of Libor inter-bank lending rates since 2012 in the wake of Barclays' £290m ($454m) fine by US and UK authorities.
[font size=1]-snip-[/font]
Rabobank fined $1bn over Libor
Dutch bank Rabobank says it has agreed to pay fines of 774m euros ($1bn; £662m) imposed by US, UK and Dutch regulators over the Libor interest rate-fixing scandal.
The bank added that its chief executive, Piet Moerland, had stepped down.
Libor rates are used to set trillions of dollars of financial contracts.
[font size=1]-snip-[/font]
Regulators have been investigating the manipulation of Libor inter-bank lending rates since 2012 in the wake of Barclays' £290m ($454m) fine by US and UK authorities.
[font size=1]-snip-[/font]
Read more: http://www.bbc.co.uk/news/business-24730242
