Risk News

8/6/2012
As Libor Fault-Finding Grows, It Is Now Every Bank for Itself

"Major banks, which often band together when facing government scrutiny, are now turning on one another as an international investigation into the manipulation of interest rates gains momentum."

Annie's take:

How the Libor is set has been only vaguely understood outside professional banking circles. Before regulators are done, all of us will understand more than we ever wanted to about this rate. This article examines the scramble among banks to cover their own activities.