LIBOR

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In a press release this morning the US Commodity Futures Trading Commission announced that it has:

Today issued an Order against ICAP Europe Limited (ICAP), an interdealer broker, bringing and settling charges of manipulation, attempted manipulation, false reporting, and aiding and abetting derivatives traders’ manipulation and attempted manipulation, relating to the London Interbank Offered Rate (LIBOR) for Yen. LIBOR is a critical benchmark interest rate used throughout the world as the basis for trillions of dollars of transactions. ICAP is a subsidiary of U.K.-based ICAP plc.

More on CFTC Fines ICAP $65 Million for LIBOR Manipulation

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According to the Financial Services Authority website they have:

Today fined Barclays Bank Plc (Barclays) £59.5 million for misconduct relating to the London Interbank Offered Rate (LIBOR) and the Euro Interbank Offered Rate (EURIBOR). This is the largest fine ever imposed by the FSA.

Not only that, but also according to a United States Commodity Futures Trading Commission press release (and using that ever more familar form of words that implies nobody is actually responsible) they have:

More on Barclays Bank Fined £290 Million for Fixing LIBOR

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