Libor scandal - Knowledge

874:. On 28 September, Wheatley's independent review was published, recommending that an independent organisation with government and regulator representation, called the Tender Committee, manage the process of setting Libor under a new external oversight process for transparency and accountability. Banks that make submissions to Libor would be required to base them on actual inter-bank deposit market transactions and keep records of their transactions supporting those submissions. The review also recommended that individual banks' Libor submissions be published, but only after three months, to reduce the risk that they would be used as a measure of the submitting banks' creditworthiness. The review left open the possibility that regulators might compel additional banks to participate in submissions if an insufficient number do voluntarily. The review recommended criminal sanctions specifically for manipulation of benchmark interest rates such as the Libor, saying that existing criminal regulations for manipulation of financial instruments were inadequate. Libor rates could be higher and more volatile after implementation of the reforms, so financial institution customers may experience higher and more volatile borrowing and hedging costs. The UK government agreed to accept all of the Wheatley Review's recommendations and press for legislation implementing them. 145:'s independent review recommendations. Wheatley's review recommended that banks submitting rates to Libor must base them on actual inter-bank deposit market transactions and keep records of those transactions, that individual banks' LIBOR submissions be published after three months, and recommended criminal sanctions specifically for manipulation of benchmark interest rates. Financial institution customers may experience higher and more volatile borrowing and hedging costs after implementation of the recommended reforms. The UK government agreed to accept all of the Wheatley Review's recommendations and press for legislation implementing them. 1048:) for its role in the scandal. The investigations revealed that UBS traders had colluded with other panel banks and had made over 2,000 written requests for movements in rates from at least January 2005 to at least June 2010 to benefit their trading positions. According to transcripts released by the UK's Financial Services Authority, UBS traders also offered financial inducements to interdealer brokers to help manipulate rates by spreading false information. In one exchange between a UBS banker identified as Trader A and an interdealer broker, the banker wrote, 538:. It was his understanding that senior British government officials had instructed the bank to alter the rates. Del Missier's testimony followed statements from Diamond in which he denied that he had told his deputies to report false Libor rates. Speaking before Parliament the previous week, Tucker stated that he had shared concerns regarding Barclays Libor rates because the markets might view Barclays to be at risk if its Libor submissions continued to be higher than those of other international banks. In the midst of the 62:(London Inter-bank Offered Rate) and also the resulting investigation and reaction. Libor is an average interest rate calculated through submissions of interest rates by major banks across the world. The scandal arose when it was discovered in 2012 that banks were falsely inflating or deflating their rates so as to profit from trades, or to give the impression that they were more creditworthy than they were. Libor underpins approximately $ 350 trillion in 1130:

appeared deeply ingrained." The fine represented a record for interest rate related cases, eclipsing a $ 1.5 billion Libor related fine to UBS, and the then-record $ 450 million fine assessed to Barclays earlier in the case. The size of the fine reflected the breadth of wrongdoing at Deutsche Bank, the bank's poor oversight of traders, and its failure to take action when it uncovered signs of abuse internally.

723:

pays the local government the increased cost on the bond, while when the interest rate falls, the swap seller saves and pays the local government the decreased cost on the bond. The interest rate swap mechanism generally works well; however, between 2007 and 2010 the payments to local governments on their swaps artificially decreased but the cost on their

1125:

that at least 29 employees had engaged in illegal activity. It will be required to dismiss all employees who were involved with the fraudulent transactions. However, no individuals will be charged with criminal wrongdoing. In a Libor first, Deutsche Bank will be required to install an independent monitor. Commenting on the fine, Britain's

176:, that questions whether the right people were convicted for rigging rates. The programme also alleges that at the height of the financial crisis, the Bank of England was giving instructions to banks to rig Libor to a much greater extent than the traders ever did on their own account. This was subsequently published as a book. 682:. The plaintiffs could number 100,000, each of whom has lost thousands of dollars. The complaint estimates that the banks earned hundreds of millions, if not billions of dollars, in wrongful profits as a result of artificially inflating Libor rates on the first day of each month during the complaint period. 919:

As of July 2013, a new code of conduct, introduced by a new interim oversight committee, built on this by outlining the systems and controls firms need to have in place around Libor. For example, each bank must now have a named person responsible for Libor, accountable if there is any wrongdoing. The

1129:

director Georgina Philippou said "This case stands out for the seriousness and duration of the breaches ... One division at Deutsche Bank had a culture of generating profits without proper regard to the integrity of the market. This wasn't limited to a few individuals but, on certain desks, it

718:

began offering local governments a way to save money on the sale of municipal bonds. The banks suggested instead of selling fixed interest rate bonds that local governments sell variable interest rate bonds which typically have interest rates as much as one percentage point lower than fixed interest

1124:

On 23 April 2015, Deutsche Bank agreed to a combined US$ 2.5 billion in fines – a US$ 2.175 billion fine by American regulators, and a €227 million penalty by British authorities – for its involvement in the Libor scandal. The company also pleaded guilty to wire fraud, acknowledging

662:

had as a change date on which new repayment rates would "reset". An email referenced in the lawsuit from the Barclay's settlement, showed a trader asking for a higher Libor rate because "We're getting killed on our three-month resets." During the analysed period, the Libor rate rose on average more

628:

In another conversation on 27 March 2008, Tan asked that RBS raise its Libor submission and noted that an earlier lower figure that the bank had submitted had cost his team £200,000. In other released instant chats, Tan made it clear that the Libor fixing process had become a highly lucrative money

409:

Early estimates are that the rate manipulation scandal cost US states, counties, and local governments at least $ 6 billion in fraudulent interest payments, above $ 4 billion that state and local governments have already had to spend to unwind their positions exposed to rate manipulation.

367:

who traded immunity from prosecution in exchange for turning on his fellow conspirators. In the court documents, a federal prosecutor for the bureau stated, "IRD (interest-rate derivatives) traders at the participant banks communicated with each other their desire to see a higher or lower yen LIBOR

303:

were also aware as early as November 2007 of industry concerns that the Libor rate was being under-reported. In one 2008 document, a Barclays employee told a New York Fed analyst, "We know that we're not posting an honest Libor, and yet we are doing it, because if we didn't do it, it draws unwanted

505:

for complicity with the rate manipulation scandal. They accused Geithner of knowledge of the rate-fixing, and inaction which contributed to litigation that "threatens to clog our courts with multi-billion dollar class action lawsuits" alleging that the manipulated rates harmed state, municipal and

315:

looked into ways to "fix" Libor. While the released memos suggest that the New York Fed helped to identify problems related to Libor and press the relevant authorities in the UK to reform, there is no documentation that shows any evidence that Geithner's recommendations were acted upon or that the

722:

To hedge costs on the sale of variable interest rate bonds, which can rise and fall with the market, local governments, such as Baltimore, purchased interest rate swaps which exchange a variable interest rate for a fixed interest rate. In a swap deal, when the interest rate rises, the swap seller

529:

Appearing before Parliament on 16 July, Jerry del Missier, a former senior Barclays executive, said that he had received instructions from Robert Diamond to lower rates after Diamond's discussions with bank regulators. He said that he had received information of a conversation between Diamond and

405:

had also opened a criminal investigation into manipulation of interest rates. The investigation was not limited to Barclays. It has been reported since then that regulators in at least ten countries on three different continents are investigating the rigging of the Libor and other interest rates.

230:

which also found that "Although the integrity of the U.S. dollar Libor-fixing process has been questioned by some market participants and the financial press, it appears that U.S. dollar Libor remains an accurate measure of a typical creditworthy bank's marginal cost of unsecured U.S. dollar term

77:

they are paying, or would expect to pay, for borrowing from other banks. The Libor is supposed to be the total assessment of the health of the financial system because if the banks being polled feel confident about the state of things, they report a low number and if the member banks feel a low

333:

was conducting a criminal investigation into Libor abuse. Among the abuses being investigated were the possibility that traders were in direct communication with bankers before the rates were set, thus allowing them an unprecedented amount of insider knowledge into global instruments. In court

213:

released an article, and later study, suggesting that some banks might have understated borrowing costs they reported for the Libor during the 2008 credit crunch that may have misled others about the financial position of these banks. In response, the BBA claimed that the Libor continued to be

271:

had interest rate swaps of notional value of $ 49.3 trillion. Given the large notional values, a small unhedged exposure to the Libor could generate large incentives to alter the overall Libor. In the first quarter of 2009, Citigroup for example reported that it would make that quarter $

292:, "hardly anybody is willing to lend to any bank around the world for three months unsecured; they want to lend secured." As a result, he said that Libor had become "in many ways the rate at which banks do not lend to each other, ...it is not a rate at which anyone is actually borrowing." 1074:

In September 2013, ICAP settled allegations that they had manipulated Libor. The United States Department of Justice charged three former employees, and ICAP paid $ 65 million to the US's Commodity Futures Trading Commission and £14 million ($ 22 million) to Britain's

1052:

if you keep 6s unchanged today ... I will f—ing do one humongous deal with you ... Like a 50,000 buck deal, whatever ... I need you to keep it as low as possible ... if you do that .... I'll pay you, you know, 50,000 dollars, 100,000 dollars... whatever you want ... I'm a man of my

1070:

of traders Thomas Alexander William Hayes and Roger Darin. The bank has stated that these and other fines would probably result in a significant fourth-quarter loss in 2012. The fine levied by the FSA, reduced due to the bank's co-operation, was the largest in the agency's history.

1121:€80 million and broker RP Martin €247 thousand. In July 2014, US and UK regulators slapped a combined £218 million ($ 370 million) in fines on Lloyds and a number of subsidiaries over its part in the Libor fixing, and other rate manipulations and false reporting. 585:. Tan in his court affidavit stated that the Royal Bank of Scotland knew of the Libor rates manipulation and that it supported such actions. In instant messages, traders at RBS extensively discussed manipulating Libor rates. In a released transcript of a 21 August 2007 chat, 911:

From the end of July 2013, only five currencies and seven maturities were to be quoted every day (35 rates), reduced from 150 different Libor rates – 15 maturities for each of ten currencies, making it more likely that the rates submitted are underpinned by real trades.

246:

study, concluding that the Libor submissions by some member banks were being understated. Unlike the earlier study, Snider and Youle suggested that the reason for understatement by member banks was not that the banks were trying to appear strong, especially during the

171:

closed its investigation into the rigging of Libor in October 2019 following a detailed review of the available evidence. It is estimated that the seven-year investigation of the Libor scandal in the UK cost at least £60 million. BBC Radio 4 produced a programme,

956:

was on the verge of launching legal action against ANZ. However, ANZ was not the only bank to have been caught up in the scandal with ASIC entering enforceable undertakings with BNP, Royal Bank of Scotland and UBS and imposed fines totalling $ 3.6 million.

358:

by five banks of the yen denominated Libor rates. Court documents filed indicated that the Competition Bureau had been pursuing the matter since at least January 2011. The documents offered a detailed view of how and when the international banks allegedly

1695: 768:

instruments, and that "the motives of the Fed, Bank of England, US and UK banks are aligned, their policies mutually reinforcing and beneficial. The Libor fixing is another indication of this collusion." In that perspective they advocate stricter

542:

collapse, there was concern the bank might need to be bailed out if the financial markets perceived it was a credit risk. Tucker told the committee, "I wanted to make sure that Barclays' day-to-day funding issues didn't push it over the cliff."

1029:. Tucker then voluntarily appeared before parliament, to clarify the discussions he had with Bob Diamond. He said he had never encouraged manipulation of the Libor, and that other self-regulated mechanisms like the Libor should be reformed. 3655: 706:

sales. It is estimated that the manipulation of Libor cost municipalities at least $ 6 billion. These losses were in addition to $ 4 billion that localities had already paid to unwind backfiring interest rate swaps.

3929: 3700: 400:

By 4 July 2012, the breadth of the scandal was evident and became the topic of analysis on news and financial programs that attempted to explain the importance of the scandal. Two days later, it was announced that the UK

663:

than two basis points above the average on the first day of the month, and between 2007 and 2009, the Libor rate rose on average more than seven and one-half basis points above the average on the first day of the month.

998:

for attempted manipulation of the Libor and Euribor rates. The United States Department of Justice and Barclays officially agreed that "the manipulation of the submissions affected the fixed rates on some occasions".

951:

as being "obstructionist" in its attitude towards this investigation. While the overall outcome of the investigation was still pending, one Australian man has been charged in relation to Libor. It was understood that

3610: 338:

claimed that it was common practice among senior employees at his bank to make requests to the bank's rate setters as to the appropriate Libor rate, and that the bank also made on occasions rate requests for some

4016:"CFTC Orders UBS to Pay $ 700 Million Penalty to Settle Charges of Manipulation, Attempted Manipulation and False Reporting of LIBOR and Other Benchmark Interest Rates - U.S. COMMODITY FUTURES TRADING COMMISSION" 727:

remained at actual market rates. This was because most interest rate swaps are linked to the Libor interest rate, while municipal bond rates are linked to the SIFMA Municipal Bond Index interest rate. During the

194:

Hi Guys, We got a big position in 3m libor for the next 3 days. Can we please keep the libor fixing at 5.39 for the next few days. It would really help. We do not want it to fix any higher than that. Tks a lot.

812:

Mainland European scholars discussed the necessity of far-reaching banking reforms in light of the current crisis of confidence, recommending the adoption of binding regulations that would go further than the

915:

Since the beginning of July 2013, each individual submission from the banks is embargoed for three months to reduce the motivation to submit a false rate to portray a flattering picture of creditworthiness.

316:

Fed tried to make sure that they were. In October 2008, several months after Geithner's memo to King, a Barclays employee told a New York Fed representative that Libor rates were still "absolute rubbish."

3212: 1699: 328:

reported in March 2011 that regulators were focusing on Bank of America Corp., Citigroup Inc. and UBS AG in their probe of Libor rate manipulation. A year later, it was reported in February 2012 that the

3006: 3516: 3798: 2958: 3188: 732:

the two benchmark rates decoupled. Municipalities continued to pay on their bonds at the actual market Sifma rate but were paid on their interest rate swaps at the artificially lower Libor rate.

1517:

Regulators might look to quote Libor based on actual transactions, though the technical hurdles are enormous. Regulators will try to safeguard the model rather than find an alternative to Libor.

2746: 2409: 3647: 3579: 2560: 272:

936 million in net interest revenue if interest rates would fall by .25 percentage points a quarter, and $ 1,935 million if they were to fall by 1 percentage point instantaneously.

3482: 1002:

Barclays manipulated rates for at least two reasons. Routinely, from at least as early as 2005, traders sought particular rate submissions to benefit their financial positions. During the

2360: 105:

often rely on Libor as a reference rate, the manipulation of submissions used to calculate those rates can have significant negative effects on consumers and financial markets worldwide.

3036: 1109:

received full immunity for one of the infringements in which it participated, thereby avoiding a fine of around €55 million, but was fined €70 million for other infringements.

2843: 410:

An increasingly smaller set of banks are participating in setting the Libor, calling into question its future as a benchmark standard, but without any viable alternative to replace it.

3330: 1537: 3921: 3839: 3434: 3408: 2615: 2893: 2869: 2699: 1815: 222:

stated that "available data do not support the hypothesis that contributor banks manipulated their quotes to profit from positions based on fixings." Further, in October 2008, the

2819: 2433: 4255: 5563: 2766: 3692: 2980: 1256: 148:

Significant reforms, in line with the Wheatley Review, came into effect in 2013 and a new administrator took over in early 2014. The UK controls Libor through laws made in the

3888: 4217: 1640: 1324:"Barclays Bank PLC Admits Misconduct Related to Submissions for the London Interbank Offered Rate and the Euro Interbank Offered Rate and Agrees to Pay $ 160 Million Penalty" 5429: 814: 156:

brings Libor under UK regulatory oversight and creates a criminal offence for knowingly or deliberately making false or misleading statements relating to benchmark-setting.

2021: 3310: 5380: 3546: 3254: 3602: 2583: 888:

that Bloomberg LP could develop an alternative index called the Bloomberg Interbank Offered Rate that would use data from transactions such as market-based quotes for

4124: 2645: 655:

lawsuit in October 2012 against twelve of the largest banks which alleged that Libor manipulation made mortgage repayments more expensive than they should have been.

4608: 1725: 904:. Furthermore, knowingly or deliberately making false or misleading statements in relation to benchmark-setting had been made a criminal offence in UK law under the 114:

published an article by a former trader which stated that Libor manipulation had been common since at least 1991. Further reports on this have since come from the

3960: 2535: 694:

and others in the US filed a class action lawsuit in April 2012 against Libor setting banks which alleged that the manipulation of Libor caused payments on their

3221: 2995: 5540: 3508: 3101: 1754: 1591: 4565: 4054: 2485: 1611: 4647: 3795: 1301:"CFTC Orders Barclays to pay $ 200 Million Penalty for Attempted Manipulation of and False Reporting concerning Libor and Euribor Benchmark Interest Rates" 251:, but rather that the banks sought to make substantial profits on their large Libor interest-linked portfolios. For example, in the first quarter of 2009, 2950: 1504: 3180: 1890: 2075: 3284: 2670: 2463: 506:

local governments. The senators said that an American-based interest rate index is a better alternative which they would take steps towards creating.

5419: 3129: 3070: 2794: 2743: 2406: 3571: 476:. He was seeking records of communications between the New York Fed and Barclays between August 2007 and November 2009 related to Libor-like rates. 3722: 3677: 3632: 953: 944: 586: 4663: 4433: 4351: 4345: 4284: 3486: 2374: 943:

As of June 2015, Australian regulators were still investigating involvement of Australian banks in manipulation of key market interest rates. The

4369: 4150: 3770: 1133:

As of 2015, at least three banks – JPMorgan, Citigroup, and Bank of America – were still under investigation for their involvement in the fraud.

235: 3157: 3032: 2352: 5510: 5375: 2840: 239: 4408: 3327: 1533: 1021:

regarding the manipulation of Libor rates. He said he was unaware of the manipulation until that month, but mentioned discussions he had with

5076: 4537: 4499: 4452: 3356: 2557: 1937: 578: 93:, an attempt to manipulate Libor is an attempt to manipulate US derivatives markets, and thus a violation of American law. Since mortgages, 3847: 1280: 299:

chose to take no action against them at that time. Minutes by the Bank of England similarly indicated that the bank and its deputy governor

5434: 5289: 4940: 4695: 4573: 3430: 3404: 2169: 1356: 1045: 825:

banking experts have argued that, beyond national legislations, such rules should be adopted and implemented within the broader context of

719:

rate bonds. For a municipal government this could mean saving as much as $ 1 million a year on the sale of a $ 100 million bond.

2889: 2691: 2612: 1807: 658:

Statistical analysis indicated that the Libor rose consistently on the first day of each month between 2000 and 2009 on the day that most

5480: 5241: 2861: 2430: 1437: 4307: 3382: 2816: 78:

degree of confidence in the financial system, they report a higher interest rate number. In June 2012, multiple criminal settlements by

5525: 5449: 4100: 2763: 1246: 862:

The British Bankers' Association said on 25 September 2012 that it would transfer oversight of Libor to UK regulators, as proposed by

760:

Paul Craig Roberts have argued that the Libor Scandal completes the picture of public and private financial institutions manipulating

5705: 5535: 5163: 4964: 4860: 4788: 2044: 1327: 4168: 4023: 3898: 3246: 931:. The new administrator is NYSE Euronext Rates Administration Limited, a London-based, UK registered company, regulated by the UK's 5365: 5218: 4704: 1644: 1060: 5804: 5459: 5256: 2013: 948: 347:

indicated that for each basis point (0.01%) that Libor was moved, those involved could net, "about a couple of million dollars."

5809: 5779: 5246: 3307: 2197: 1304: 1102: 3538: 629:

making cartel. Tan in a conversation with traders at other banks, including Deutsche Bank's Mark Wong said on 19 August 2007:

163:

as part of their investigations into the Libor scandal. Of those, eight were acquitted in early 2016. Four were found guilty (

5715: 5444: 5414: 5335: 4552: 4514: 4075: 2580: 822: 427: 402: 168: 160: 46: 4116: 2637: 1565: 5475: 5330: 5196: 5060: 4288: 4247: 1017:, the chief executive officer of Barclays, also resigned from his position. Bob Diamond was subsequently questioned by the 987: 3456: 5764: 4900: 4358: 4298: 4209: 4165:"Antitrust: Commission fines banks € 1.71 billion for participating in cartels in the interest rate derivatives industry" 3993: 3873: 3825: 3741: 2121: 1784: 991: 757: 3952: 2332: 845:. This perspective gained ground after the unraveling of the Libor scandal, with mainstream opinion leaders such as the 581:

told colleagues that his bank could move global interest rates and that the Libor fixing process in London had become a

5620: 5505: 2109: 1994: 1721: 465: 219: 1987:

Rigged: The Incredible True Story of the Whistleblowers Jailed after Exposing the Rotten Heart of the Financial System

5515: 5500: 5424: 5068: 636:: "It's just amazing how Libor fixing can make you that much money or lose if opposite. It's a cartel now in London." 589:, who was the head of yen products in Singapore, asked to have the Libor fixed in a conversation with other traders: 4653: 3093: 2721: 2512: 2296: 167:, Alex Pabon, Jay Vijay Merchant and Jonathan James Mathew), and one pleaded guilty (Peter Charles Johnson). The UK 5743: 5370: 5201: 4740: 4688: 4657: 4439: 3214:

Bank Regulation and Financial Orthodoxy: the Lessons from the Glass-Steagall Act, Revue Analyse Financière, Q1 2010

1750: 1018: 561:

It's just amazing how Libor fixing can make you that much money or lose if opposite. It's a cartel now in London.

499: 457: 431: 4633: 4620: 4604: 4562: 4046: 2309: 5698: 5191: 5036: 4996: 4924: 4190: 1066:

described the conduct of UBS's as "simply astonishing" and declared the US would seek, as a criminal matter, the

130: 83: 1863: 5784: 5738: 5615: 5350: 5345: 4948: 4852: 4414: 4391: 1496: 1003: 729: 699: 675: 535: 510: 289: 248: 2924: 1202: 5520: 5454: 5355: 5156: 4804: 4480: 1173: 17: 3276: 2543: 745: 5439: 5251: 4972: 4916: 4868: 4828: 4764: 4315: 2786: 2667: 2599: 2455: 995: 863: 138: 3126: 3062: 1670: 1105:) and thereby avoided a fine of around €2.5 billion for its participation in multiple infringements. 740:

The cost to colluding and suspect banks from litigation, penalties, and loss of confidence may drive down

5799: 5794: 5100: 5020: 4681: 4395: 3691:

Commission, c=au;o=Australian Government;ou=Australian Government Australian Securities and Investments.

3646:

Commission, c=au;o=Australian Government;ou=Australian Government Australian Securities and Investments.

3601:

Commission, c=au;o=Australian Government;ou=Australian Government Australian Securities and Investments.

2157: 1588: 1126: 1076: 932: 928: 905: 901: 900:

As of July 2013, the administration of Libor has itself become a regulated activity overseen by the UK's

871: 223: 153: 4486: 1837: 5225: 4820: 4543: 3763: 2477: 2381: 1638: 1110: 801: 473: 4505: 4458: 4420: 4294: 4146: 5635: 5545: 5213: 5186: 4579: 4332: 3149: 2787:"Congress Joins Libor Probes: Focus Includes U.S. Regulators Who Knew About Problem as Early as 2007" 67: 4464: 2817:"Senators Launch Investigation Into Treasury Secretary Geithner's Involvement In Libor Manipulation" 1482: 5789: 5630: 5385: 5261: 5149: 5004: 4614: 3405:"Code of Conduct for Contributing Banks becomes Industry Guidance and Whistleblowing policy issued" 1057:

Subsequent trades between UBS and this broker generated more than $ 250,000 in fees to the broker.

1040:

and the Commodity Futures Trading Commission, £160m to the UK Financial Services Authority and 59m

1037: 970:

Pls go for 5.36 libor again, very important that the setting comes as high as possible ... thanks.

659: 469: 446: 423: 330: 296: 3352: 5774: 5340: 5208: 1277: 1101:

from 2007 to 2010. UBS received full immunity for revealing the existence of the cartels (due to

312: 285: 209: 4812: 4585: 2146: 1352: 608:: "Mixed feelings, but mostly I'd like it all lower so the world starts to make a little sense." 5769: 5360: 4932: 4844: 1459: 774: 574: 419: 369: 335: 218:

article saying there was no evidence of manipulation. In its March 2008 Quarterly Review, the

4621:

Yen Interest Rate Derivatives Cartel: Citigroup, Deutsche Bank, JP Morgan, RBS, RP Martin, UBS

2269: 2260:

Snider, Conan; Thomas Youle (2 April 2010). "Does the Libor Reflect Banks' Borrowing Costs?".

2246: 2237:

Snider, Conan; Thomas Youle (2 April 2010). "Does the Libor Reflect Banks' Borrowing Costs?".

2223: 2214:

Snider, Conan; Thomas Youle (2 April 2010). "Does the Libor Reflect Banks' Borrowing Costs?".

1445: 5710: 5657: 5610: 4474: 4304: 3378: 1353:"Barclays fined £59.5 million for significant failings in relation to Libor and Euribor" 842: 439: 368:

to aid their trading positions." The alleged participants were the Canadian branches of the

5733: 4643: 1612:"UK Treasury Minister: Government Accepts Recommendations Of Wheatley Libor Review In Full" 1323: 1178: 1022: 1014: 826: 480: 300: 98: 63: 2283: 8: 5693: 5625: 5129: 5052: 4164: 4015: 3127:"LIBOR Liabilities: How litigation will drive down banks profitability for years to come" 2337: 1300: 1090: 908:. The Danish, Swedish, Canadian, Australian and New Zealand Libor rates were terminated. 889: 885: 695: 256: 702:, states and localities bought $ 500 billion in interest rate swaps to hedge their 5675: 5651: 5309: 5282: 5108: 4623:, Belgium, Directorate-General for Competition (European Commission), 12 December 2013. 3953:"Bank of England deputy governor Paul Tucker fights Libor accusations – as it happened" 3483:"BBA to hand over administration of LIBOR to NYSE Euronext Rate Administration Limited" 1168: 830: 351: 164: 90: 4617:, Belgium, Directorate-General for Competition (European Commission), 21 October 2014. 1093:

announced fines for six financial institutions participating in one or more bilateral

614:: "The whole HF world will be kissing you instead of calling me if Libor move lower." 5720: 4732: 4716: 4605:

Euro Interest Rate Derivatives Cartel: Barclays, Deutsche Bank, RBS, Société Générale

4094: 3716: 3671: 3626: 2265: 2242: 2219: 2161: 2113: 1990: 1467: 838: 789: 715: 307:

The documents show that in early 2008, a memo written by then New York Fed President

102: 4664:

Correspondence with the NY Fed and British Bankers' Association in relation to Libor

4591: 4470: 4328: 2194: 2067: 2052: 1639:

Anthony Browne, chief executive of the British Bankers' Association (11 July 2013).

1224: 920:

banks must keep records so that they can be audited by the regulators if necessary.

5092: 4988: 4908: 4748: 834: 741: 453: 442: 4592:

Administrative Actions against UBS Securities Japan Ltd and UBS AG, Japan Branches

4549: 4524: 4511: 4440:

Final Notice, Imposing financial penalty: Lloyds Bank PLC and Bank of Scotland PLC

4068: 2405:

Jia Lynn Yang (13 July 2012). Paul Tucker, deputy governor of the Bank of England.

5669: 5172: 5012: 4667: 4569: 4556: 4518: 4311: 3802: 3334: 3314: 3133: 2847: 2823: 2770: 2750: 2674: 2619: 2587: 2437: 2413: 2333:

New York Fed's Libor Documents Reveal Cozy Relationship Between Regulators, Banks

2201: 1891:"FactCheck: how many bankers were jailed for their part in the financial crisis?" 1595: 1569: 1562: 1408: 1375: 1284: 1026: 867: 847: 797: 793: 770: 711: 539: 534:, in which they had discussed the bank's financial position at the height of the 531: 381: 281: 264: 142: 110: 37:

This dwarfs by orders of magnitude any financial scam in the history of markets.

3460: 3431:"BBA Libor Limited has established the Interim LIBOR Oversight Committee (ILOC)" 5584: 5530: 5314: 4980: 4796: 4772: 3989: 3869: 3821: 3737: 3648:"14-169MR ASIC accepts enforceable undertaking from The Royal Bank of Scotland" 2453: 1776: 1412: 1396: 1183: 724: 703: 671: 483: 389: 268: 260: 5028: 4373: 3485:(Press release). The British Bankers' Association. 9 July 2013. Archived from 2098: 1006:, they artificially lowered rate submissions to make their bank seem healthy. 744:

profits for years. The cost of litigation from the scandal may exceed that of

5758: 5299: 5294: 5044: 4892: 4876: 4756: 4724: 4421:

United States of America v. Darrell Read, Daniel Wilkinson, and Colin Goodman

3893: 3807: 3122: 2595: 2507: 2165: 2117: 1916: 1438:"Britischer Finanzexperte berichtet von langjährigen Zinssatz-Manipulationen" 1157: 1114: 983: 924: 881: 761: 377: 364: 344: 149: 133:(BBA) said on 25 September 2012 that it would transfer oversight of Libor to 79: 74: 1963: 1641:"Libor now has a new administrator – but our reforms have gone much further" 1380: 1370: 4836: 4500:

Order Instituting Proceedings, In the matter of: Royal Bank of Scotland PLC

2313: 1427:(7 August 2012), "Libor collusion was rife, culture went right to the top". 1098: 1063: 1010: 877: 785: 765: 652: 502: 449: 435: 355: 354:

was reported on 15 July 2012 to also be carrying out an investigation into

308: 214:

reliable even in times of financial crisis. Other authorities contradicted

94: 3244: 3094:"Baltimore and the Libor scandal: 'We can't leave any money on the table'" 642:: "Must be damn difficult to trade man, especially you not in the loop." 5663: 5304: 4637: 4434:

Order Instituting Proceedings, In the matter of: Lloyds Banking Group PLC

4411:, United States, Commodity Futures Trading Commission, 25 September 2013. 3922:"Bob Diamond questioned by MPs on Barclays Libor scandal: as it happened" 2713: 2591: 2502: 1938:"The Libor investigation may be over but we haven't heard the last of it" 1067: 1041: 784:, considered one of the driving forces behind the considerable financial 781: 679: 621: 518: 406:

Around 20 major banks have been named in investigations and court cases.

340: 4540:, United States, Commodity Futures Trading Commission, 19 December 2012. 4481:

United States of America v. Paul Robson, Paul Thompson, Tetsuya Motomura

5084: 4780: 4502:, United States, Commodity Futures Trading Commission, 6 February 2013. 4455:, United States, Commodity Futures Trading Commission, 29 October 2013. 4210:"Deutsche Bank fined record $ 2.5 billion in rate rigging inquiry" 2564: 1147: 1036:

agreed to pay regulators $ 1.5 billion ($ 1.2 billion to the

514: 521:

may have lost more than $ 3 billion because of the manipulation.

267:

had interest rate swaps of notional value of $ 49.7 trillion and

4673: 4348:, United States, Commodity Futures Trading Commission, 23 April 2015. 4248:"Deutsche Bank to Pay $ 2.5 Billion Fine to Settle Rate-Rigging Case" 3539:"Perth man becomes first Australian charged over Libor banking fraud" 2454:

Enrich, David; Mollenkamp, Carrick; Eaglesham, Jean (18 March 2011).

1251: 1106: 691: 667: 491: 252: 123: 42: 4512:

Final Notice, Imposing financial penalty: Royal Bank of Scotland PLC

4436:, United States, Commodity Futures Trading Commission, 28 July 2014. 4409:

Order Instituting Proceedings, In the matter of: ICAP Europe Limited

4352:

Statement of Facts, Deferred prosecution agreement: Deutsche Bank AG

5579: 3181:"Rethinking Capitalism: Sandy Weill Says Bring Back Glass-Steagall" 3033:"Rigged Libor Hits States-Localities With $ 6 Billion: Muni Credit" 2916: 1392: 1118: 1083: 1013:, chairman of Barclays, resigned from his position. One day later, 495: 385: 360: 115: 5141: 4471:

Libor and Euribor investigation findings and measures for Rabobank

4285:

Order Instituting Proceedings, In the matter of: Barclays Bank PLC

2951:"Banks Rigged Libor To Inflate Adjustable-Rate Mortgages: Lawsuit" 4884: 4559:, United Kingdom, Financial Services Authority, 19 December 2012. 4417:, United Kingdom, Financial Conduct Authority, 25 September 2013. 4346:

Order Instituting Proceedings, In the matter of: Deutsche Bank AG

4167:(Press release). Brussels: European Commission. 4 December 2013. 3407:(Press release). The British Bankers' Association. 15 July 2013. 3381:(Press release). The British Bankers' Association. 12 June 2013. 3355:(Press release). The British Bankers' Association. 2 April 2013. 2558:

Canadian connection to Libor scandal probed by Competition Bureau

1534:"Libor Spurned, Credit Score Review, Germany's Audit: Compliance" 1424: 1152: 119: 4521:, United Kingdom, Financial Services Authority, 6 February 2013. 4506:

Plea agreement: United States of America v. RBS Securities Japan

4295:

Statement of Facts, Non-prosecution agreement: Barclays Bank PLC

3693:"14-014MR ASIC accepts enforceable undertaking from BNP Paribas" 3509:"ANZ named as one of the 'appalling' banks in rate-fixing probe" 3433:(Press release). The British Bankers' Association. 5 July 2013. 2981:"Home owners file class action suit versus banks over Libor: FT" 2310:

Timothy Geithner and Mervyn King discussed Libor worries in 2008

2195:"US Students Detected Libor-Fixing Years Before Banking Scandal" 159:

As of November 2017, 13 traders had been charged by the UK

5564:

List of banks acquired or bankrupted during the Great Recession

4467:, United Kingdom, Financial Conduct Authority, 29 October 2013. 3457:"NYSE Euronext Subsidiary To Become New Administrator of LIBOR" 3328:"U.K. Lawmakers Seek Speedy Overhaul of Libor Following Review" 2996:"In re: Libor-Based Financial Instruments Antitrust Litigation" 2862:"Former Senior Barclays Executive Faces Scrutiny in Parliament" 1666: 1094: 582: 3840:"Barclays chairman resigns over interest rate rigging scandal" 2841:"Fannie Mae, Freddie Mac Libor Loss Tops $ 3 Billion in Audit" 2407:

Geithner made recommendations on Libor in 2008, documents show

1838:"Former Barclays traders acquitted in UK's fourth Libor trial" 1589:"Libor reform may add volatility, increase some funding costs" 4442:, United Kingdom, Financial Services Authority, 28 July 2014. 1163: 1086:

was fined €774 million by US, UK and Dutch regulators .

461: 59: 5399: 4615:

Swiss Franc Interest Rate Derivatives Cartel: JP Morgan, RBS

4459:

Statement of Facts, Deferred prosecution agreement: Rabobank

3147: 2692:"Libor Lies Revealed in Rigging of $ 300 Trillion Benchmark" 2096: 1460:

http://www.informath.org/media/a72/b3.htm#Official_responses

1247:"Libor scandal explained and what rate-rigging means to you" 792:

in Europe and North America by calling for splitting up the

714:

their municipal bond sales in the late 1990s. At this time,

513:

Office of Inspector General, said in a 3 November memo that

4525:

Administrative actions against RBS Securities Japan Limited

4329:

Administrative Action on Citigroup Global Markets Japan Inc

4305:

Final Notice, Imposing financial penalty: Barclays Bank PLC

3796:

Why is Nobody Freaking Out About the LIBOR Banking Scandal?

3459:(Press release). NYSE Euronext. 9 July 2013. Archived from 3245:

Nicolas J. Firzli quoted by Marie Lepesant (11 June 2012).

2536:"Ex-RBS trader says Brevan Howard sought Libor rate change" 2353:"Rate-Fixing Scandal Hits U.S.: Fed Drops LIBOR Bombshells" 1142: 854:

called for the adoption of an EU-wide "Glass–Steagall II."

818: 670:

whose home was repossessed after her subprime mortgage was

487: 373: 86:

connected to the rate submissions, leading to the scandal.

4423:, United States, Department of Justice, 25 September 2013. 4114: 2890:"RBS Instant Messages Show Libor Rates Skewed for Traders" 70:(ICE), which took over running the Libor in January 2014. 5430:

Dodd–Frank Wall Street Reform and Consumer Protection Act

4588:, United States, Department of Justice, 12 December 2012. 4582:, United States, Department of Justice, 12 December 2012. 4546:, United States, Department of Justice, 18 December 2012. 4453:

Order Instituting Proceedings, In the matter of: Rabobank

4415:

Final Notice, Imposing financial penalty: ICAP Europe Ltd

2764:"Libor, Set by Fewer Banks, Losing Status as a Benchmark" 1696:"UK Government Policy: Creating stronger and safer banks" 1033: 4508:, United States, Department of Justice, 5 February 2013. 4489:, United States, Department of Justice, 13 January 2014. 4483:, United States, Department of Justice, 13 January 2014. 4461:, United States, Department of Justice, 29 October 2013. 3756: 3603:"13-366MR ASIC accepts enforceable undertaking from UBS" 2638:"Serious Fraud Office to investigate Libor manipulation" 804:

which led to half a century, free of financial crises."

242:, in April 2010 corroborated the results of the earlier 4538:

Order Instituting Proceedings, In the matter of: UBS AG

1287:. British Bankers' Association. Retrieved 17 July 2012. 363:

to fix the Libor rates. The information was based on a

137:

regulators, as predicted by bank analysts, proposed by

134: 5541:

National fiscal policy response to the Great Recession

4354:, United States, Department of Justice, 23 April 2015. 4139: 3870:"Barclays boss Bob Diamond resigns amid Libor scandal" 395: 4594:, Japan, Financial Services Agency, 16 December 2011. 4580:

United States of America v. Tom Hayes and Roger Darin

4544:

Statement of Facts, Non-prosecution agreement: UBS AG

4245: 3769:. United States Department of Justice. 26 June 2012. 2066:

Mollenkamp, Carrick; Whitehouse, Mark (29 May 2008).

1397:

Libor scandal: Review finds system 'no longer viable'

698:

to be smaller than they should have been. Before the

288:, told the UK Parliament that since the start of the 4648:

International Organization of Securities Commissions

4117:"ICAP to Pay $ 87 Million Fine in Libor-Fixing Case" 4044: 3572:"ASIC ready to launch rate-rigging case against ANZ" 2431:

Libor email from Timothy Geithner to Bank of England

2097:

Gyntelberg, Jacob; Wooldridge, Philip (March 2008).

2065: 1561:

Alexis Levine and Michael Harquail (5 October 2012)

927:

has taken over the administration of Libor from the

122:. On 28 November 2012, the Finance Committee of the 58:

was a series of fraudulent actions connected to the

4108: 2744:"Rigged Libor costs states, localities $ 6 billion" 2602:

on 4 July 2012 regarding the emerging Libor Scandal

5660:(Europe, Middle East and North Africa, Asia; 2009) 4654:Documents concerning Barclays and the Libor matter 4527:, Japan, Financial Services Agency, 12 April 2013. 4465:Final Notice, Imposing financial penalty: Rabobank 4115:Scott, Mark; Julia Werdigier (25 September 2013). 2666:David Enrich & Dana Cimilluca (15 July 2012). 2259: 2236: 2213: 2099:"Interbank rate fixings during the recent turmoil" 1753:(Press release). UK Government. 19 December 2012. 710:Municipalities began using interest rate swaps to 452:about the scandal during scheduled hearings. Rep. 4644:Principles for Financial Benchmarks: Final Report 2308:Jill Treanor & Dominic Rushe (13 July 2012). 2297:House of Commons – Treasury – Minutes of Evidence 2008: 2006: 566:RBS trader in Singapore to Deutsche Bank trader, 5756: 5468: 4550:Final Notice, Imposing financial penalty: UBS AG 3822:"Libor scandal: Seven banks face US questioning" 1563:"Wheatley Review May Mean Big Changes for Libor" 1527: 1525: 1458:An English summary is on the trader's web site. 1371:My thwarted attempt to tell of Libor shenanigans 945:Australian Securities and Investments Commission 4370:New York State Department of Financial Services 4204: 4202: 4200: 4047:"LIBOR Scandal: Yep, It's as Bad as We Thought" 3148:Paul Craig Roberts; Nomi Prins (14 July 2012). 3005:. United States District Court, S.D. New York. 1808:"Sixth Ex-Broker Cleared in London Libor Trial" 1751:"Financial Services Bill receives Royal Assent" 975:Barclays Bank trader in New York to submitter, 413: 200:Barclays Bank trader in New York to submitter, 5511:American Recovery and Reinvestment Act of 2009 5376:Office of Federal Housing Enterprise Oversight 4475:De Nederlandsche Bank (the Dutch Central Bank) 3347: 3345: 3343: 3247:"Le Modèle des Banques Françaises en Question" 2497: 2495: 2003: 1413:Libor review: Wheatley says system must change 524: 126:held a hearing to learn more about the issue. 5157: 4689: 2784: 2635: 2613:Libor Criminal Probe, CFTC Exemptions, Canada 1698:. UK Government. 17 July 2013. Archived from 1522: 1383:of this article is on the author's web site.) 1009:Following the interest rate rigging scandal, 646: 509:Timothy Lee, a capital markets expert at the 275: 5435:Emergency Economic Stabilization Act of 2008 4574:Swiss Financial Market Supervisory Authority 4197: 4191:"Lloyds Bank fined $ 370m for Libor rigging" 4183: 3721:: CS1 maint: multiple names: authors list ( 3676:: CS1 maint: multiple names: authors list ( 3631:: CS1 maint: multiple names: authors list ( 3210: 3063:"Wall Street's latest sucker: Your hometown" 2944: 2942: 2611:Carla Main & Ellen Rosen (9 July 2012). 2045:"Bankers Cast Doubt on Key Rate Amid Crisis" 1690: 1688: 1271: 1046:Swiss Financial Market Supervisory Authority 319: 82:revealed significant fraud and collusion by 73:The banks are supposed to submit the actual 4241: 4239: 4237: 4235: 3340: 3308:"Libor tender puts focus on data providers" 3238: 3003:2012 WL 1522306 (S.D.N.Y.) (Trial Pleading) 2668:Missteps on Libor Doomed Barclays's Leaders 2492: 2456:"U.S. Libor Probe Includes BofA, Citi, UBS" 1745: 1743: 1583: 1581: 1531: 788:and "mega-mergers" of the 1990s, surprised 602:: "Where would you like it, Libor that is?" 5572: 5526:Fraud Enforcement and Recovery Act of 2009 5450:Term Asset-Backed Securities Loan Facility 5164: 5150: 4696: 4682: 4634:The Wheatley Review of LIBOR: Final Report 3984: 3982: 3980: 3978: 3566: 3564: 2350: 2042: 1667:"BBA Libor Benchmark Administrator's News" 1634: 1632: 1630: 1628: 1626: 1624: 1622: 1620: 1606: 1604: 5706:Effects of the Great Recession on museums 5536:Housing and Economic Recovery Act of 2008 5420:China–Japan–South Korea trilateral summit 5077:Facebook–Cambridge Analytica data scandal 4789:Bank of Credit and Commerce International 4246:Ben Protess; Jack Ewing (23 April 2015). 4045:Christopher Matthews (20 December 2012). 3141: 3056: 3054: 2988: 2948: 2939: 2533: 2059: 1722:"UK Parliament General Committee Debates" 1685: 1557: 1555: 1203:"Explaining the Libor interest rate mess" 764:to prop up the prices of bonds and other 498:) announced that they were investigating 5400:Government policy and spending responses 5366:Government National Mortgage Association 4487:Robson et al Complaint, Exhibit of Facts 4232: 2327: 2325: 2323: 2253: 2230: 2207: 1864:"Convicted LIBOR manipulators sentenced" 1740: 1578: 685: 5460:2008 United Kingdom bank rescue package 4586:Hayes et al Complaint, Exhibit of Facts 3975: 3919: 3735: 3561: 3201:Quoting interview on CNBC's Squawk-Box. 3178: 3030: 3024: 2488:from the original on 24 September 2015. 1617: 1601: 1326:. Department of Justice. 27 June 2012. 1318: 1316: 1314: 949:Australia and New Zealand Banking Group 573:In court documents filed in Singapore, 14: 5757: 4703: 4127:from the original on 26 September 2013 4099:: CS1 maint: archived copy as title ( 3950: 3846:. Reuters. 2 July 2012. Archived from 3690: 3645: 3600: 3172: 3060: 3051: 2914: 2908: 2896:from the original on 28 September 2012 2883: 2881: 2879: 2478:"U.S. conducting criminal Libor probe" 1984: 1961: 1914: 1777:"Five cleared over Libor rate rigging" 1552: 1540:from the original on 29 September 2012 1295: 1293: 800:. In effect, he says, "Bring back the 280:In November 2008, the Governor of the 5445:Temporary Liquidity Guarantee Program 5415:Banking (Special Provisions) Act 2008 5398: 5336:Federal Deposit Insurance Corporation 5145: 4677: 4153:from the original on 21 October 2017. 4057:from the original on 25 January 2013. 3996:from the original on 19 December 2012 3990:"UBS fined $ 1.5bn for Libor rigging" 3889:"Bob Diamond resigns as Barclays CEO" 3738:"Libor scandal: Who might have lost?" 3317:, "Financial News", 28 September 2012 3257:from the original on 18 December 2012 3104:from the original on 11 November 2013 3091: 3085: 3012:from the original on 24 December 2012 2859: 2702:from the original on 30 January 2013. 2648:from the original on 16 December 2013 2320: 2043:Mollenkamp, Carrick (16 April 2008). 1347: 1345: 422:began investigating on 10 July 2012. 5331:Consumer Financial Protection Bureau 4289:Commodity Futures Trading Commission 4171:from the original on 7 December 2013 3828:from the original on 16 August 2012. 3582:from the original on 8 February 2016 3549:from the original on 1 December 2015 3519:from the original on 26 January 2016 3353:"LIBOR becomes a regulated activity" 3073:from the original on 26 January 2016 3039:from the original on 12 October 2012 2961:from the original on 18 October 2012 2949:Touryalai, Halah (15 October 2012). 2927:from the original on 2 November 2012 2917:"US Woman Takes on Banks Over Libor" 2915:Binham, Caroline (15 October 2012). 2154:World Economic and Financial Surveys 1805: 1757:from the original on 13 January 2014 1669:. The British Bankers' Association. 1311: 988:Commodity Futures Trading Commission 986:was fined $ 200 million by the 666:The five lead plaintiffs included a 620:: "OK, I will move the curve down 1 530:Paul Tucker, deputy governor of the 5621:Collateralized mortgage obligations 5171: 4609:Directorate-General for Competition 4392:Final Notice 2015: Deutsche Bank AG 4081:from the original on 23 August 2014 3963:from the original on 3 October 2013 3886: 3876:from the original on 22 April 2017. 3411:from the original on 13 August 2013 3031:Preston, Darrell (8 October 2012). 2887: 2876: 2534:Armstrong, Rachel (30 March 2012). 2286:. BBC News. Retrieved 17 July 2012. 2147:"Global Financial Stability Report" 1888: 1724:. UK Parliament. 27 February 2013. 1614:. Dow Jones Newswires/Fox Business. 1587:Karen Brettell (28 September 2012) 1290: 992:United States Department of Justice 758:Assistant Secretary of the Treasury 551: 396:Breadth of scandal becomes apparent 24: 4366:In the Matter of: Deutsche Bank AG 4220:from the original on 23 April 2015 4147:"Megaboete Rabobank Libor-affaire" 4026:from the original on 13 April 2018 3326:Ben Moshinsky and Lindsay Fortado 3320: 3300: 3269: 3160:from the original on 5 August 2013 2797:from the original on 11 March 2016 2742:Darrell Preston (10 October 2012) 2466:from the original on 10 July 2017. 2363:from the original on 17 July 2012. 2282:Stephanie Flanders (4 July 2012). 2110:Bank for International Settlements 1889:Lee, Georgina (20 November 2017). 1610:Ainsley Thomson (17 October 2012) 1575:(Blake, Cassels & Graydon LLP) 1359:from the original on 28 June 2012. 1342: 1307:from the original on 30 June 2012. 1097:relating to Libor submissions for 892:transactions and corporate bonds. 857: 780:Former Citigroup chairman and CEO 678:, sold by banks to investors, and 466:House Financial Services Committee 220:Bank for International Settlements 66:. It is currently administered by 25: 5821: 5716:2007–2008 world food price crisis 5516:Chinese economic stimulus program 5501:2008 European Union stimulus plan 5425:Commercial Paper Funding Facility 5069:Wells Fargo account fraud scandal 4273: 4258:from the original on 22 July 2016 3951:Moulds, Josephine (9 July 2012). 3776:from the original on 15 July 2012 3744:from the original on 28 June 2012 3703:from the original on 8 March 2016 3658:from the original on 8 March 2016 3613:from the original on 8 March 2016 3437:from the original on 15 July 2013 3385:from the original on 23 June 2013 3359:from the original on 22 June 2013 3287:from the original on 16 July 2012 3191:from the original on 28 July 2012 2888:Tan, Andrea (26 September 2012). 2872:from the original on 9 July 2017. 2724:from the original on 17 July 2012 2515:from the original on 24 July 2012 2380:. Bank of England. Archived from 2175:from the original on 20 July 2012 2127:from the original on 20 July 2012 2024:from the original on 12 July 2012 1917:"Libor rigging inquiry shut down" 1818:from the original on 21 July 2016 1673:from the original on 22 June 2013 1532:Main, Carla (26 September 2012). 1507:from the original on 1 April 2016 1497:"Dissecting Barclays' Libor woes" 1369:Keenan, Douglas (27 July 2012), " 1330:from the original on 13 July 2012 1259:from the original on 28 July 2012 596:: "What's the call on the Libor?" 546: 228:Global Financial Stability Review 5744:List of countries by public debt 5371:National Asset Management Agency 4658:Federal Reserve Bank of New York 4157: 4061: 4038: 4008: 3944: 3932:from the original on 9 July 2012 3913: 3880: 3061:Gandel, Stephen (11 July 2012). 2556:Julian Beltrame (15 July 2012). 2078:from the original on 29 May 2008 1915:Verity, Andy (19 October 2019). 1728:from the original on 7 July 2013 1143:Secured Overnight Financing Rate 1019:Parliament of the United Kingdom 966:Libor manipulation to raise rate 751: 190:Libor manipulation to lower rate 179: 5699:2008 Central Asia energy crisis 5616:Collateralized debt obligations 5037:Saradha Group financial scandal 4997:National Herald corruption case 4372:. 23 April 2015. Archived from 3920:Trotman, Andrew (4 July 2012). 3862: 3832: 3814: 3788: 3729: 3684: 3639: 3594: 3531: 3501: 3475: 3449: 3423: 3397: 3379:"Announcement of LIBOR changes" 3371: 3277:"Restoring trust after Diamond" 3204: 3179:Denning, Steve (25 July 2012). 3116: 3092:Rushe, Dominic (19 July 2012). 2973: 2853: 2839:Clea Benson (19 December 2012) 2833: 2815:HITC Business (4 October 2012) 2809: 2778: 2756: 2736: 2706: 2684: 2660: 2629: 2605: 2590:coverage of a discussion among 2574: 2550: 2527: 2470: 2447: 2423: 2399: 2367: 2344: 2302: 2289: 2284:Inconvenient truths about Libor 2276: 2262:Social Science Research Network 2239:Social Science Research Network 2216:Social Science Research Network 2193:Carl Schreck (11 October 2012) 2187: 2139: 2090: 2068:"Study Casts Doubt on Key Rate" 2036: 1978: 1955: 1930: 1908: 1882: 1856: 1830: 1799: 1787:from the original on 4 May 2018 1769: 1714: 1659: 1489: 1430: 1418: 1402: 773:, and a profound reform of the 676:collateralised debt obligations 5805:Scandals in the United Kingdom 5506:2008–2009 Keynesian resurgence 5351:Federal Housing Finance Agency 5346:Federal Housing Administration 4853:Lysine price-fixing conspiracy 4563:FINMA Summary Report UBS LIBOR 3337:, Bloomberg, 28 September 2012 2785:Reddy, Sudeep (11 July 2012). 2331:Mark Gongloff (13 July 2012). 2299:. Q34. Retrieved 17 July 2012. 1806:Bray, Chad (28 January 2016). 1386: 1363: 1239: 1217: 1195: 994:and £59.5 million by the 511:Federal Housing Finance Agency 479:On 4 October 2012, Republican 13: 1: 5810:Scandals in the United States 5780:Banking in the United Kingdom 5521:Economic Stimulus Act of 2008 5455:Troubled Asset Relief Program 5381:Office of Financial Stability 5356:Federal Housing Finance Board 5290:Société Générale trading loss 4725:Panic of 1890 (Baring crisis) 3736:Pollock, Ian (28 June 2012). 2762:John Glover (8 October 2012) 2714:"The rotten heart of finance" 2636:Treanor, Jill (6 July 2012). 1962:Verity, Andy (4 March 2022). 1225:"The LIBOR Scandal Explained" 1189: 1174:1992 Indian stock market scam 1113:was fined €260 million, 1061:US Assistant Attorney General 870:and CEO-designate of the new 651:Homeowners in the US filed a 557:Libor fixing a banking cartel 343:. One trader's messages from 334:documents, a trader from the 5440:Irish emergency budget, 2009 5061:1Malaysia Development Berhad 4973:Volkswagen emissions scandal 4869:Long-Term Capital Management 4829:Towers Financial Corporation 4316:Financial Services Authority 2860:Scott, Mark (16 July 2012). 2600:Viewpoint with Eliot Spitzer 1985:Verity, Andy (1 June 2023). 996:Financial Services Authority 990:, $ 160 million by the 938: 864:Financial Services Authority 823:World Pensions Council (WPC) 735: 414:United States investigations 184: 139:Financial Services Authority 131:British Bankers' Association 89:Because Libor is used in US 7: 5109:Facebook company files leak 5021:Indian coal allocation scam 4396:Financial Conduct Authority 3220:(in French), archived from 2351:Alex Klein (13 July 2012). 2158:International Monetary Fund 1444:(in German). Archived from 1136: 1127:Financial Conduct Authority 1077:Financial Conduct Authority 933:Financial Conduct Authority 929:British Bankers Association 906:Financial Services Act 2012 902:Financial Conduct Authority 872:Financial Conduct Authority 525:Parliamentary investigation 224:International Monetary Fund 154:Financial Services Act 2012 10: 5826: 5765:2012 in the United Kingdom 5739:2007–2008 financial crisis 5631:Mortgage-backed securities 5242:Automotive industry crisis 3887:Ram, Vidya (4 July 2012). 3297:quoting FT Editorial Page. 2979:Reuters (14 October 2012) 2581:Capitalism Without Failure 2014:"Behind the Libor Scandal" 1643:. City A.M. Archived from 1111:The Royal Bank of Scotland 1004:2007–2008 financial crisis 895: 817:: notably in France where 802:Glass-Steagall Act of 1933 756:US experts such as former 730:2007–2008 financial crisis 700:2007–2008 financial crisis 647:Mortgage rate manipulation 536:2007–2008 financial crisis 290:2007–2008 financial crisis 276:Awareness of central banks 249:2007–2008 financial crisis 5729: 5686: 5644: 5636:Secondary mortgage market 5601: 5557:rescues, and acquisitions 5555:Government interventions, 5554: 5546:Zero interest-rate policy 5493: 5405: 5394: 5323: 5270: 5257:Housing market correction 5234: 5179: 5119: 4711: 4333:Financial Services Agency 3992:. BBC. 19 December 2012. 2681:. Retrieved 17 July 2012. 2626:. Retrieved 17 July 2012. 2598:, and Dennis Kelleher on 2571:. Retrieved 17 July 2012. 2444:. Retrieved 17 July 2012. 2420:. Retrieved 17 July 2012. 2341:. Retrieved 17 July 2012. 2317:. Retrieved 17 July 2012. 1025:, deputy governor of the 807: 660:adjustable-rate mortgages 472:(New York Fed) President 438:) said he would question 392:, an interdealer broker. 320:Regulatory investigations 311:to Bank of England chief 304:attention on ourselves." 263:of $ 14.2 trillion, 68:Intercontinental Exchange 5654:(United States; c. 2009) 5386:UK Financial Investments 5271:Banking losses and fraud 5262:Subprime mortgage crisis 5247:California budget crisis 5005:News Corporation scandal 4805:Indian stock market scam 3150:"The Real Libor Scandal" 2984:Chicago Tribune Business 1568:15 November 2012 at the 1038:US Department of Justice 960: 470:New York Federal Reserve 447:Federal Reserve chairman 424:Senate Banking Committee 331:US Department of Justice 297:New York Federal Reserve 5672:(worldwide; 2011–2012) 5611:Auction rate securities 5341:Federal Home Loan Banks 4568:1 February 2013 at the 3824:. BBC. 16 August 2012. 3333:13 January 2014 at the 3313:1 November 2012 at the 2822:17 January 2013 at the 2791:The Wall Street Journal 2774:Bloomberg Business Week 2769:11 October 2012 at the 2679:The Wall Street Journal 2460:The Wall Street Journal 2412:23 October 2016 at the 2072:The Wall Street Journal 624:, maybe more if I can." 216:The Wall Street Journal 210:The Wall Street Journal 5361:Federal Reserve System 5235:United States-specific 4933:Bayou Hedge Fund Group 4555:23 August 2014 at the 4494:Royal Bank of Scotland 2749:23 August 2014 at the 2624:Bloomberg BusinessWeek 1594:2 October 2015 at the 1055: 972: 775:Federal Reserve System 575:Royal Bank of Scotland 563: 420:United States Congress 370:Royal Bank of Scotland 336:Royal Bank of Scotland 234:A study by economists 226:published its regular 197: 39: 5785:Business ethics cases 5711:Decline of newspapers 5658:2009 May Day protests 5604:and financial markets 5494:Stimulus and recovery 4741:Kinney Services, Inc. 4517:19 March 2013 at the 4299:Department of Justice 2436:10 March 2016 at the 1089:In December 2013 the 1050: 1032:On 19 December 2012, 968: 947:(ASIC) described the 843:conflicts of interest 686:Municipalities losses 559: 192: 152:. In particular, the 108:On 27 July 2012, the 99:financial derivatives 35: 5734:European debt crisis 5626:Credit default swaps 5602:Securities involved 5408:stability and reform 4845:Sumitomo Corporation 4640:, 28 September 2012. 4310:10 July 2012 at the 3872:. BBC. 3 July 2012. 3764:"Statement of Facts" 2846:24 July 2014 at the 2673:29 July 2017 at the 2618:12 July 2012 at the 2586:11 July 2012 at the 2484:. 28 February 2012. 2200:21 July 2013 at the 2160:: 76. October 2008. 2106:BIS Quarterly Review 1868:Serious Fraud Office 1283:21 June 2012 at the 1278:Calculating Interest 1179:NSE co-location scam 827:separation of powers 403:Serious Fraud Office 169:Serious Fraud Office 161:Serious Fraud Office 49:Professor of Finance 33:Scale of the scandal 27:London banking fraud 5694:2000s energy crisis 5406:Banking and finance 5324:Government entities 5130:Accounting scandals 4611:, 12 December 2013. 4576:, 19 December 2012. 4403:ICAP Europe Limited 4335:, 16 December 2011. 3901:on 10 February 2013 3801:7 July 2012 at the 3578:. 7 February 2016. 3545:. 25 October 2015. 3227:on 15 February 2010 2418:The Washington Post 2338:The Huffington Post 2295:(12 January 2009). 2049:Wall Street Journal 1964:"The Lowball Tapes" 1411:(10 August 2012), " 1395:(10 August 2012), " 1227:. Accounting Degree 1205:. CNN. 10 July 2012 1117:€259 million, 1091:European Commission 890:credit default swap 886:European Parliament 833:, to put an end to 696:interest rate swaps 390:ICAP (Intercapital) 326:Wall Street Journal 257:interest rate swaps 244:Wall Street Journal 91:derivatives markets 5800:Financial scandals 5795:Corporate scandals 5676:Occupy Wall Street 5652:Tea Party protests 5310:Scott W. Rothstein 4821:Metallgesellschaft 4705:Corporate scandals 4666:, United Kingdom, 4636:, United Kingdom, 4477:, 29 October 2013. 4394:, United Kingdom, 4314:, United Kingdom, 4252:The New York Times 4121:The New York Times 3211:M Nicolas Firzli, 3154:Paul Craig Roberts 3132:7 May 2018 at the 3125:(26 October 2012) 2866:The New York Times 2055:on 8 October 2013. 2018:The New York Times 1812:The New York Times 1702:on 17 October 2013 1647:on 4 November 2013 1169:White-collar crime 923:As of early 2014, 866:managing director 837:practices akin to 831:European Union law 790:financial analysts 716:investment bankers 500:Treasury Secretary 440:Treasury Secretary 352:Competition Bureau 207:On 16 April 2008, 141:managing director 103:financial products 5752: 5751: 5721:Retail apocalypse 5666:(MENA; 2010–2012) 5597: 5596: 5593: 5592: 5489: 5488: 5469:Bank stress tests 5139: 5138: 4717:South Sea Company 4656:, United States, 4297:, United States, 4287:, United States, 4216:. 23 April 2015. 1475:External link in 1448:on 4 January 2013 1082:In October 2013, 982:On 27 June 2012, 839:exclusive dealing 746:asbestos lawsuits 674:into Libor-based 202:13 September 2006 174:The Lowball Tapes 16:(Redirected from 5817: 5645:Social responses 5570: 5569: 5466: 5465: 5396: 5395: 5166: 5159: 5152: 5143: 5142: 5132: 5125: 5112: 5104: 5096: 5088: 5080: 5072: 5064: 5056: 5048: 5040: 5032: 5024: 5016: 5008: 5000: 4992: 4989:2G spectrum case 4984: 4976: 4968: 4965:Anglo Irish Bank 4960: 4952: 4944: 4941:Société Générale 4936: 4928: 4920: 4912: 4904: 4896: 4888: 4880: 4872: 4864: 4856: 4848: 4840: 4832: 4824: 4816: 4808: 4800: 4792: 4784: 4776: 4768: 4760: 4752: 4749:Banco Ambrosiano 4744: 4736: 4728: 4720: 4698: 4691: 4684: 4675: 4674: 4398:, 23 April 2015. 4388: 4386: 4384: 4379:on 30 April 2015 4378: 4363: 4268: 4267: 4265: 4263: 4243: 4230: 4229: 4227: 4225: 4206: 4195: 4194: 4187: 4181: 4180: 4178: 4176: 4161: 4155: 4154: 4143: 4137: 4136: 4134: 4132: 4112: 4106: 4104: 4098: 4090: 4088: 4086: 4080: 4073: 4065: 4059: 4058: 4042: 4036: 4035: 4033: 4031: 4012: 4006: 4005: 4003: 4001: 3986: 3973: 3972: 3970: 3968: 3948: 3942: 3941: 3939: 3937: 3917: 3911: 3910: 3908: 3906: 3897:. Archived from 3884: 3878: 3877: 3866: 3860: 3859: 3857: 3855: 3836: 3830: 3829: 3818: 3812: 3792: 3786: 3785: 3783: 3781: 3775: 3768: 3760: 3754: 3753: 3751: 3749: 3733: 3727: 3726: 3720: 3712: 3710: 3708: 3688: 3682: 3681: 3675: 3667: 3665: 3663: 3643: 3637: 3636: 3630: 3622: 3620: 3618: 3598: 3592: 3591: 3589: 3587: 3576:Financial Review 3568: 3559: 3558: 3556: 3554: 3535: 3529: 3528: 3526: 3524: 3513:Financial Review 3505: 3499: 3498: 3496: 3494: 3479: 3473: 3472: 3470: 3468: 3453: 3447: 3446: 3444: 3442: 3427: 3421: 3420: 3418: 3416: 3401: 3395: 3394: 3392: 3390: 3375: 3369: 3368: 3366: 3364: 3349: 3338: 3324: 3318: 3304: 3298: 3296: 3294: 3292: 3273: 3267: 3266: 3264: 3262: 3242: 3236: 3235: 3234: 3232: 3226: 3219: 3208: 3202: 3200: 3198: 3196: 3176: 3170: 3169: 3167: 3165: 3145: 3139: 3123:Shawn D. Baldwin 3120: 3114: 3113: 3111: 3109: 3089: 3083: 3082: 3080: 3078: 3058: 3049: 3048: 3046: 3044: 3028: 3022: 3021: 3019: 3017: 3011: 3000: 2992: 2986: 2977: 2971: 2970: 2968: 2966: 2946: 2937: 2936: 2934: 2932: 2912: 2906: 2905: 2903: 2901: 2885: 2874: 2873: 2857: 2851: 2837: 2831: 2813: 2807: 2806: 2804: 2802: 2782: 2776: 2760: 2754: 2740: 2734: 2733: 2731: 2729: 2710: 2704: 2703: 2688: 2682: 2664: 2658: 2657: 2655: 2653: 2633: 2627: 2609: 2603: 2578: 2572: 2563:16 July 2012 at 2554: 2548: 2547: 2546:on 2 April 2012. 2542:. Archived from 2531: 2525: 2524: 2522: 2520: 2511:. 30 June 2012. 2499: 2490: 2489: 2474: 2468: 2467: 2451: 2445: 2427: 2421: 2403: 2397: 2396: 2394: 2392: 2386: 2379: 2371: 2365: 2364: 2348: 2342: 2329: 2318: 2306: 2300: 2293: 2287: 2280: 2274: 2273: 2257: 2251: 2250: 2234: 2228: 2227: 2211: 2205: 2191: 2185: 2184: 2182: 2180: 2174: 2151: 2143: 2137: 2136: 2134: 2132: 2126: 2103: 2094: 2088: 2087: 2085: 2083: 2063: 2057: 2056: 2051:. Archived from 2040: 2034: 2033: 2031: 2029: 2020:. 10 July 2012. 2010: 2001: 2000: 1982: 1976: 1975: 1973: 1971: 1959: 1953: 1952: 1950: 1948: 1934: 1928: 1927: 1925: 1923: 1912: 1906: 1905: 1903: 1901: 1886: 1880: 1879: 1877: 1875: 1860: 1854: 1853: 1851: 1849: 1834: 1828: 1827: 1825: 1823: 1803: 1797: 1796: 1794: 1792: 1773: 1767: 1766: 1764: 1762: 1747: 1738: 1737: 1735: 1733: 1718: 1712: 1711: 1709: 1707: 1692: 1683: 1682: 1680: 1678: 1663: 1657: 1656: 1654: 1652: 1636: 1615: 1608: 1599: 1585: 1576: 1559: 1550: 1549: 1547: 1545: 1529: 1520: 1519: 1514: 1512: 1503:. 29 June 2012. 1493: 1487: 1486: 1480: 1479: 1473: 1471: 1463: 1455: 1453: 1434: 1428: 1422: 1416: 1406: 1400: 1390: 1384: 1381:extended version 1367: 1361: 1360: 1349: 1340: 1339: 1337: 1335: 1320: 1309: 1308: 1297: 1288: 1275: 1269: 1268: 1266: 1264: 1243: 1237: 1236: 1234: 1232: 1221: 1215: 1214: 1212: 1210: 1199: 978: 853: 835:anti-competitive 798:investment banks 794:commercial banks 742:finance industry 569: 552:Cartel operation 454:Randy Neugebauer 443:Timothy Geithner 203: 50: 21: 5825: 5824: 5820: 5819: 5818: 5816: 5815: 5814: 5790:Corporate crime 5755: 5754: 5753: 5748: 5725: 5682: 5670:Occupy movement 5640: 5603: 5589: 5568: 5556: 5550: 5485: 5464: 5407: 5401: 5390: 5319: 5266: 5230: 5175: 5173:Great Recession 5170: 5140: 5135: 5128: 5123: 5115: 5107: 5099: 5091: 5083: 5075: 5067: 5059: 5051: 5043: 5039:(2013–ongoing) 5035: 5027: 5019: 5011: 5003: 4999:(2010–ongoing) 4995: 4987: 4979: 4971: 4963: 4955: 4947: 4939: 4931: 4923: 4915: 4907: 4899: 4891: 4883: 4875: 4867: 4859: 4851: 4843: 4835: 4827: 4819: 4811: 4803: 4795: 4787: 4779: 4771: 4763: 4755: 4747: 4739: 4731: 4723: 4715: 4707: 4702: 4670:, 13 July 2012. 4668:Bank of England 4660:, 13 July 2012. 4572:, Switzerland, 4570:Wayback Machine 4557:Wayback Machine 4519:Wayback Machine 4473:, Netherlands, 4382: 4380: 4376: 4361: 4359:"Consent Order" 4357: 4318:, 27 June 2012. 4312:Wayback Machine 4301:, 26 June 2012. 4291:, 27 June 2012. 4276: 4271: 4261: 4259: 4244: 4233: 4223: 4221: 4208: 4207: 4198: 4189: 4188: 4184: 4174: 4172: 4163: 4162: 4158: 4145: 4144: 4140: 4130: 4128: 4113: 4109: 4092: 4091: 4084: 4082: 4078: 4071: 4069:"Archived copy" 4067: 4066: 4062: 4043: 4039: 4029: 4027: 4014: 4013: 4009: 3999: 3997: 3988: 3987: 3976: 3966: 3964: 3949: 3945: 3935: 3933: 3918: 3914: 3904: 3902: 3885: 3881: 3868: 3867: 3863: 3853: 3851: 3838: 3837: 3833: 3820: 3819: 3815: 3803:Wayback Machine 3793: 3789: 3779: 3777: 3773: 3766: 3762: 3761: 3757: 3747: 3745: 3734: 3730: 3714: 3713: 3706: 3704: 3689: 3685: 3669: 3668: 3661: 3659: 3644: 3640: 3624: 3623: 3616: 3614: 3599: 3595: 3585: 3583: 3570: 3569: 3562: 3552: 3550: 3537: 3536: 3532: 3522: 3520: 3515:. 3 June 2015. 3507: 3506: 3502: 3492: 3490: 3489:on 13 July 2013 3481: 3480: 3476: 3466: 3464: 3463:on 18 July 2013 3455: 3454: 3450: 3440: 3438: 3429: 3428: 3424: 3414: 3412: 3403: 3402: 3398: 3388: 3386: 3377: 3376: 3372: 3362: 3360: 3351: 3350: 3341: 3335:Wayback Machine 3325: 3321: 3315:Wayback Machine 3306:Michelle Price 3305: 3301: 3290: 3288: 3283:. 3 July 2012. 3281:Financial Times 3275: 3274: 3270: 3260: 3258: 3243: 3239: 3230: 3228: 3224: 3217: 3209: 3205: 3194: 3192: 3177: 3173: 3163: 3161: 3146: 3142: 3134:Wayback Machine 3121: 3117: 3107: 3105: 3090: 3086: 3076: 3074: 3059: 3052: 3042: 3040: 3029: 3025: 3015: 3013: 3009: 2998: 2994: 2993: 2989: 2978: 2974: 2964: 2962: 2947: 2940: 2930: 2928: 2921:Financial Times 2913: 2909: 2899: 2897: 2886: 2877: 2858: 2854: 2848:Wayback Machine 2838: 2834: 2824:Wayback Machine 2814: 2810: 2800: 2798: 2783: 2779: 2771:Wayback Machine 2761: 2757: 2751:Wayback Machine 2741: 2737: 2727: 2725: 2720:. 7 July 2012. 2712: 2711: 2707: 2690: 2689: 2685: 2675:Wayback Machine 2665: 2661: 2651: 2649: 2634: 2630: 2620:Wayback Machine 2610: 2606: 2588:Wayback Machine 2579: 2575: 2555: 2551: 2532: 2528: 2518: 2516: 2501: 2500: 2493: 2476: 2475: 2471: 2452: 2448: 2438:Wayback Machine 2428: 2424: 2414:Wayback Machine 2404: 2400: 2390: 2388: 2384: 2377: 2373: 2372: 2368: 2357:The Daily Beast 2349: 2345: 2330: 2321: 2307: 2303: 2294: 2290: 2281: 2277: 2258: 2254: 2235: 2231: 2212: 2208: 2202:Wayback Machine 2192: 2188: 2178: 2176: 2172: 2149: 2145: 2144: 2140: 2130: 2128: 2124: 2101: 2095: 2091: 2081: 2079: 2064: 2060: 2041: 2037: 2027: 2025: 2012: 2011: 2004: 1997: 1983: 1979: 1969: 1967: 1960: 1956: 1946: 1944: 1936: 1935: 1931: 1921: 1919: 1913: 1909: 1899: 1897: 1887: 1883: 1873: 1871: 1862: 1861: 1857: 1847: 1845: 1836: 1835: 1831: 1821: 1819: 1804: 1800: 1790: 1788: 1775: 1774: 1770: 1760: 1758: 1749: 1748: 1741: 1731: 1729: 1720: 1719: 1715: 1705: 1703: 1694: 1693: 1686: 1676: 1674: 1665: 1664: 1660: 1650: 1648: 1637: 1618: 1609: 1602: 1596:Wayback Machine 1586: 1579: 1573:Blakes Business 1570:Wayback Machine 1560: 1553: 1543: 1541: 1530: 1523: 1510: 1508: 1495: 1494: 1490: 1477: 1476: 1474: 1465: 1464: 1451: 1449: 1436: 1435: 1431: 1423: 1419: 1409:BBC News Online 1407: 1403: 1391: 1387: 1376:Financial Times 1368: 1364: 1351: 1350: 1343: 1333: 1331: 1322: 1321: 1312: 1299: 1298: 1291: 1285:Wayback Machine 1276: 1272: 1262: 1260: 1245: 1244: 1240: 1230: 1228: 1223: 1222: 1218: 1208: 1206: 1201: 1200: 1196: 1192: 1139: 1103:Leniency policy 1027:Bank of England 980: 976: 974: 967: 963: 941: 898: 868:Martin Wheatley 860: 858:Recommendations 851: 848:Financial Times 810: 771:bank regulation 754: 738: 688: 649: 571: 567: 565: 558: 554: 549: 540:Lehman Brothers 532:Bank of England 527: 416: 398: 322: 282:Bank of England 278: 265:Bank of America 205: 201: 199: 191: 187: 182: 143:Martin Wheatley 111:Financial Times 52: 41: 34: 28: 23: 22: 15: 12: 11: 5: 5823: 5813: 5812: 5807: 5802: 5797: 5792: 5787: 5782: 5777: 5775:Banking crimes 5772: 5767: 5750: 5749: 5747: 5746: 5741: 5736: 5730: 5727: 5726: 5724: 5723: 5718: 5713: 5708: 5703: 5702: 5701: 5690: 5688: 5687:Related topics 5684: 5683: 5681: 5680: 5679: 5678: 5667: 5661: 5655: 5648: 5646: 5642: 5641: 5639: 5638: 5633: 5628: 5623: 5618: 5613: 5607: 5605: 5599: 5598: 5595: 5594: 5591: 5590: 5588: 5587: 5585:General Motors 5582: 5576: 5574: 5567: 5566: 5560: 5558: 5552: 5551: 5549: 5548: 5543: 5538: 5533: 5531:Green New Deal 5528: 5523: 5518: 5513: 5508: 5503: 5497: 5495: 5491: 5490: 5487: 5486: 5484: 5483: 5478: 5472: 5470: 5463: 5462: 5457: 5452: 5447: 5442: 5437: 5432: 5427: 5422: 5417: 5411: 5409: 5403: 5402: 5392: 5391: 5389: 5388: 5383: 5378: 5373: 5368: 5363: 5358: 5353: 5348: 5343: 5338: 5333: 5327: 5325: 5321: 5320: 5318: 5317: 5315:Allen Stanford 5312: 5307: 5302: 5297: 5292: 5287: 5286: 5285: 5274: 5272: 5268: 5267: 5265: 5264: 5259: 5254: 5252:Housing bubble 5249: 5244: 5238: 5236: 5232: 5231: 5229: 5228: 5223: 5222: 5221: 5211: 5206: 5205: 5204: 5199: 5189: 5183: 5181: 5177: 5176: 5169: 5168: 5161: 5154: 5146: 5137: 5136: 5134: 5133: 5126: 5120: 5117: 5116: 5114: 5113: 5105: 5097: 5089: 5081: 5073: 5071:(2016–ongoing) 5065: 5063:(2015–ongoing) 5057: 5049: 5047:(2013–ongoing) 5041: 5033: 5025: 5017: 5009: 5001: 4993: 4985: 4977: 4969: 4961: 4953: 4945: 4937: 4929: 4921: 4913: 4905: 4897: 4889: 4881: 4873: 4865: 4857: 4849: 4841: 4833: 4825: 4817: 4809: 4801: 4797:Robert Maxwell 4793: 4785: 4777: 4773:Bofors scandal 4769: 4761: 4753: 4745: 4737: 4729: 4721: 4712: 4709: 4708: 4701: 4700: 4693: 4686: 4678: 4672: 4671: 4661: 4651: 4641: 4625: 4624: 4618: 4612: 4599:European Union 4596: 4595: 4589: 4583: 4577: 4560: 4547: 4541: 4529: 4528: 4522: 4509: 4503: 4491: 4490: 4484: 4478: 4468: 4462: 4456: 4444: 4443: 4437: 4425: 4424: 4418: 4412: 4400: 4399: 4389: 4355: 4349: 4337: 4336: 4320: 4319: 4302: 4292: 4275: 4274:External links 4272: 4270: 4269: 4231: 4196: 4182: 4156: 4138: 4107: 4060: 4037: 4007: 3974: 3943: 3912: 3879: 3861: 3850:on 4 July 2012 3831: 3813: 3794:Taibbi, Matt, 3787: 3755: 3728: 3683: 3638: 3593: 3560: 3530: 3500: 3474: 3448: 3422: 3396: 3370: 3339: 3319: 3299: 3268: 3237: 3203: 3171: 3140: 3115: 3084: 3050: 3023: 2987: 2972: 2938: 2907: 2875: 2852: 2832: 2808: 2793:. p. C2. 2777: 2755: 2735: 2705: 2683: 2659: 2628: 2604: 2573: 2549: 2526: 2491: 2469: 2446: 2422: 2398: 2387:on 3 June 2013 2366: 2343: 2319: 2301: 2288: 2275: 2252: 2229: 2206: 2186: 2138: 2089: 2058: 2035: 2002: 1996:978-0750998857 1995: 1977: 1954: 1929: 1907: 1895:Channel 4 News 1881: 1855: 1844:. 6 April 2017 1829: 1798: 1783:. 7 May 2018. 1768: 1739: 1713: 1684: 1658: 1616: 1600: 1577: 1551: 1521: 1488: 1429: 1417: 1401: 1385: 1362: 1341: 1310: 1289: 1270: 1238: 1216: 1193: 1191: 1188: 1187: 1186: 1184:Satyam scandal 1181: 1176: 1171: 1166: 1161: 1155: 1150: 1145: 1138: 1135: 965: 964: 962: 959: 940: 937: 897: 894: 859: 856: 815:Dodd–Frank Act 809: 806: 762:interest rates 753: 750: 737: 734: 704:municipal bond 687: 684: 648: 645: 644: 643: 637: 626: 625: 615: 609: 603: 597: 587:Jezri Mohideen 568:19 August 2007 556: 555: 553: 550: 548: 547:Civil lawsuits 545: 526: 523: 484:Chuck Grassley 474:William Dudley 415: 412: 397: 394: 382:JP Morgan Bank 321: 318: 277: 274: 269:JPMorgan Chase 261:notional value 189: 188: 186: 183: 181: 178: 75:interest rates 32: 31: 26: 9: 6: 4: 3: 2: 5822: 5811: 5808: 5806: 5803: 5801: 5798: 5796: 5793: 5791: 5788: 5786: 5783: 5781: 5778: 5776: 5773: 5771: 5770:2012 scandals 5768: 5766: 5763: 5762: 5760: 5745: 5742: 5740: 5737: 5735: 5732: 5731: 5728: 5722: 5719: 5717: 5714: 5712: 5709: 5707: 5704: 5700: 5697: 5696: 5695: 5692: 5691: 5689: 5685: 5677: 5674: 5673: 5671: 5668: 5665: 5662: 5659: 5656: 5653: 5650: 5649: 5647: 5643: 5637: 5634: 5632: 5629: 5627: 5624: 5622: 5619: 5617: 5614: 5612: 5609: 5608: 5606: 5600: 5586: 5583: 5581: 5578: 5577: 5575: 5571: 5565: 5562: 5561: 5559: 5553: 5547: 5544: 5542: 5539: 5537: 5534: 5532: 5529: 5527: 5524: 5522: 5519: 5517: 5514: 5512: 5509: 5507: 5504: 5502: 5499: 5498: 5496: 5492: 5482: 5479: 5477: 5474: 5473: 5471: 5467: 5461: 5458: 5456: 5453: 5451: 5448: 5446: 5443: 5441: 5438: 5436: 5433: 5431: 5428: 5426: 5423: 5421: 5418: 5416: 5413: 5412: 5410: 5404: 5397: 5393: 5387: 5384: 5382: 5379: 5377: 5374: 5372: 5369: 5367: 5364: 5362: 5359: 5357: 5354: 5352: 5349: 5347: 5344: 5342: 5339: 5337: 5334: 5332: 5329: 5328: 5326: 5322: 5316: 5313: 5311: 5308: 5306: 5303: 5301: 5300:Bernie Madoff 5298: 5296: 5295:Forex scandal 5293: 5291: 5288: 5284: 5281: 5280: 5279: 5278:Libor scandal 5276: 5275: 5273: 5269: 5263: 5260: 5258: 5255: 5253: 5250: 5248: 5245: 5243: 5240: 5239: 5237: 5233: 5227: 5224: 5220: 5217: 5216: 5215: 5212: 5210: 5207: 5203: 5202:South America 5200: 5198: 5197:United States 5195: 5194: 5193: 5190: 5188: 5185: 5184: 5182: 5178: 5174: 5167: 5162: 5160: 5155: 5153: 5148: 5147: 5144: 5131: 5127: 5122: 5121: 5118: 5110: 5106: 5102: 5098: 5094: 5090: 5086: 5082: 5078: 5074: 5070: 5066: 5062: 5058: 5054: 5050: 5046: 5042: 5038: 5034: 5030: 5026: 5022: 5018: 5014: 5010: 5006: 5002: 4998: 4994: 4990: 4986: 4982: 4978: 4974: 4970: 4966: 4962: 4958: 4954: 4950: 4946: 4942: 4938: 4934: 4930: 4926: 4922: 4918: 4914: 4910: 4906: 4902: 4898: 4894: 4890: 4886: 4882: 4878: 4874: 4870: 4866: 4862: 4858: 4854: 4850: 4846: 4842: 4838: 4834: 4830: 4826: 4822: 4818: 4814: 4810: 4806: 4802: 4798: 4794: 4790: 4786: 4782: 4778: 4774: 4770: 4766: 4762: 4758: 4757:Carrian Group 4754: 4750: 4746: 4742: 4738: 4734: 4730: 4726: 4722: 4718: 4714: 4713: 4710: 4706: 4699: 4694: 4692: 4687: 4685: 4680: 4679: 4676: 4669: 4665: 4662: 4659: 4655: 4652: 4649: 4645: 4642: 4639: 4635: 4632: 4631: 4630: 4629: 4622: 4619: 4616: 4613: 4610: 4606: 4603: 4602: 4601: 4600: 4593: 4590: 4587: 4584: 4581: 4578: 4575: 4571: 4567: 4564: 4561: 4558: 4554: 4551: 4548: 4545: 4542: 4539: 4536: 4535: 4534: 4533: 4526: 4523: 4520: 4516: 4513: 4510: 4507: 4504: 4501: 4498: 4497: 4496: 4495: 4488: 4485: 4482: 4479: 4476: 4472: 4469: 4466: 4463: 4460: 4457: 4454: 4451: 4450: 4449: 4448: 4441: 4438: 4435: 4432: 4431: 4430: 4429: 4422: 4419: 4416: 4413: 4410: 4407: 4406: 4405: 4404: 4397: 4393: 4390: 4375: 4371: 4367: 4360: 4356: 4353: 4350: 4347: 4344: 4343: 4342: 4341: 4340:Deutsche Bank 4334: 4330: 4327: 4326: 4325: 4324: 4317: 4313: 4309: 4306: 4303: 4300: 4296: 4293: 4290: 4286: 4283: 4282: 4281: 4280: 4279:Barclays Bank 4257: 4253: 4249: 4242: 4240: 4238: 4236: 4219: 4215: 4211: 4205: 4203: 4201: 4192: 4186: 4170: 4166: 4160: 4152: 4148: 4142: 4126: 4122: 4118: 4111: 4102: 4096: 4077: 4070: 4064: 4056: 4052: 4048: 4041: 4025: 4021: 4017: 4011: 3995: 3991: 3985: 3983: 3981: 3979: 3962: 3958: 3954: 3947: 3931: 3927: 3926:The Telegraph 3923: 3916: 3900: 3896: 3895: 3894:Business Line 3890: 3883: 3875: 3871: 3865: 3849: 3845: 3841: 3835: 3827: 3823: 3817: 3811:, 3 July 2012 3810: 3809: 3808:Rolling Stone 3804: 3800: 3797: 3791: 3772: 3765: 3759: 3743: 3739: 3732: 3724: 3718: 3702: 3698: 3694: 3687: 3679: 3673: 3657: 3653: 3649: 3642: 3634: 3628: 3612: 3608: 3604: 3597: 3581: 3577: 3573: 3567: 3565: 3548: 3544: 3540: 3534: 3518: 3514: 3510: 3504: 3488: 3484: 3478: 3462: 3458: 3452: 3436: 3432: 3426: 3410: 3406: 3400: 3384: 3380: 3374: 3358: 3354: 3348: 3346: 3344: 3336: 3332: 3329: 3323: 3316: 3312: 3309: 3303: 3286: 3282: 3278: 3272: 3256: 3253:(in French). 3252: 3248: 3241: 3223: 3216: 3215: 3207: 3190: 3186: 3182: 3175: 3159: 3155: 3151: 3144: 3138: 3135: 3131: 3128: 3124: 3119: 3103: 3099: 3095: 3088: 3072: 3068: 3064: 3057: 3055: 3038: 3035:. Bloomberg. 3034: 3027: 3008: 3004: 2997: 2991: 2985: 2982: 2976: 2960: 2956: 2952: 2945: 2943: 2926: 2922: 2918: 2911: 2895: 2892:. Bloomberg. 2891: 2884: 2882: 2880: 2871: 2867: 2863: 2856: 2849: 2845: 2842: 2836: 2829: 2825: 2821: 2818: 2812: 2796: 2792: 2788: 2781: 2775: 2772: 2768: 2765: 2759: 2752: 2748: 2745: 2739: 2723: 2719: 2718:The Economist 2715: 2709: 2701: 2697: 2693: 2687: 2680: 2676: 2672: 2669: 2663: 2647: 2643: 2639: 2632: 2625: 2621: 2617: 2614: 2608: 2601: 2597: 2596:Eliot Spitzer 2593: 2589: 2585: 2582: 2577: 2570: 2569:National Post 2566: 2562: 2559: 2553: 2545: 2541: 2537: 2530: 2514: 2510: 2509: 2508:The Economist 2504: 2503:"Eagle fried" 2498: 2496: 2487: 2483: 2479: 2473: 2465: 2461: 2457: 2450: 2443: 2439: 2435: 2432: 2429:13 July 2012 2426: 2419: 2415: 2411: 2408: 2402: 2383: 2376: 2370: 2362: 2358: 2354: 2347: 2340: 2339: 2334: 2328: 2326: 2324: 2316: 2315: 2311: 2305: 2298: 2292: 2285: 2279: 2271: 2267: 2263: 2256: 2248: 2244: 2240: 2233: 2225: 2221: 2217: 2210: 2203: 2199: 2196: 2190: 2171: 2167: 2163: 2159: 2155: 2148: 2142: 2123: 2119: 2115: 2111: 2107: 2100: 2093: 2077: 2073: 2069: 2062: 2054: 2050: 2046: 2039: 2023: 2019: 2015: 2009: 2007: 1998: 1992: 1988: 1981: 1965: 1958: 1943: 1939: 1933: 1918: 1911: 1896: 1892: 1885: 1870:. 7 July 2016 1869: 1865: 1859: 1843: 1839: 1833: 1817: 1813: 1809: 1802: 1786: 1782: 1778: 1772: 1756: 1752: 1746: 1744: 1727: 1723: 1717: 1701: 1697: 1691: 1689: 1672: 1668: 1662: 1646: 1642: 1635: 1633: 1631: 1629: 1627: 1625: 1623: 1621: 1613: 1607: 1605: 1597: 1593: 1590: 1584: 1582: 1574: 1571: 1567: 1564: 1558: 1556: 1539: 1536:. Bloomberg. 1535: 1528: 1526: 1518: 1506: 1502: 1498: 1492: 1484: 1469: 1462: 1461: 1447: 1443: 1439: 1433: 1426: 1421: 1414: 1410: 1405: 1398: 1394: 1389: 1382: 1378: 1377: 1372: 1366: 1358: 1354: 1348: 1346: 1329: 1325: 1319: 1317: 1315: 1306: 1302: 1296: 1294: 1286: 1282: 1279: 1274: 1258: 1255:. July 2012. 1254: 1253: 1248: 1242: 1226: 1220: 1204: 1198: 1194: 1185: 1182: 1180: 1177: 1175: 1172: 1170: 1167: 1165: 1162: 1159: 1158:Forex scandal 1156: 1154: 1151: 1149: 1146: 1144: 1141: 1140: 1134: 1131: 1128: 1122: 1120: 1116: 1115:Deutsche Bank 1112: 1108: 1104: 1100: 1096: 1092: 1087: 1085: 1080: 1078: 1072: 1069: 1065: 1062: 1058: 1054: 1049: 1047: 1043: 1039: 1035: 1030: 1028: 1024: 1020: 1016: 1012: 1007: 1005: 1000: 997: 993: 989: 985: 984:Barclays Bank 979: 971: 958: 955: 950: 946: 936: 934: 930: 926: 925:NYSE Euronext 921: 917: 913: 909: 907: 903: 893: 891: 887: 883: 882:Dan Doctoroff 879: 875: 873: 869: 865: 855: 850: 849: 844: 840: 836: 832: 828: 824: 820: 816: 805: 803: 799: 795: 791: 787: 783: 778: 776: 772: 767: 763: 759: 752:United States 749: 747: 743: 733: 731: 726: 720: 717: 713: 708: 705: 701: 697: 693: 683: 681: 677: 673: 669: 664: 661: 656: 654: 641: 638: 635: 632: 631: 630: 623: 619: 616: 613: 610: 607: 604: 601: 598: 595: 592: 591: 590: 588: 584: 580: 577:(RBS) trader 576: 570: 562: 544: 541: 537: 533: 522: 520: 516: 512: 507: 504: 501: 497: 493: 489: 485: 482: 477: 475: 471: 467: 463: 459: 455: 451: 448: 444: 441: 437: 433: 429: 425: 421: 411: 407: 404: 393: 391: 388:, as well as 387: 383: 379: 378:Deutsche Bank 375: 371: 366: 365:whistleblower 362: 357: 353: 350:The Canadian 348: 346: 345:Barclays Bank 342: 337: 332: 327: 317: 314: 310: 305: 302: 298: 293: 291: 287: 283: 273: 270: 266: 262: 258: 254: 250: 245: 241: 237: 236:Connan Snider 232: 229: 225: 221: 217: 212: 211: 204: 196: 180:Early reports 177: 175: 170: 166: 162: 157: 155: 151: 150:UK Parliament 146: 144: 140: 136: 132: 127: 125: 121: 117: 113: 112: 106: 104: 100: 96: 95:student loans 92: 87: 85: 81: 80:Barclays Bank 76: 71: 69: 65: 61: 57: 56:Libor scandal 51: 48: 44: 38: 30: 19: 18:LIBOR scandal 5277: 4991:(2010–2019) 4956: 4949:Bear Stearns 4837:Barings Bank 4650:, July 2013. 4627: 4626: 4598: 4597: 4531: 4530: 4493: 4492: 4446: 4445: 4427: 4426: 4402: 4401: 4381:. Retrieved 4374:the original 4365: 4339: 4338: 4322: 4321: 4278: 4277: 4260:. Retrieved 4251: 4222:. Retrieved 4213: 4185: 4173:. Retrieved 4159: 4141: 4131:26 September 4129:. Retrieved 4120: 4110: 4083:. Retrieved 4063: 4050: 4040: 4028:. Retrieved 4020:www.cftc.gov 4019: 4010: 3998:. Retrieved 3965:. Retrieved 3957:The Guardian 3956: 3946: 3934:. Retrieved 3925: 3915: 3903:. Retrieved 3899:the original 3892: 3882: 3864: 3852:. Retrieved 3848:the original 3843: 3834: 3816: 3806: 3790: 3778:. Retrieved 3758: 3746:. Retrieved 3731: 3705:. Retrieved 3696: 3686: 3660:. Retrieved 3651: 3641: 3615:. Retrieved 3606: 3596: 3584:. Retrieved 3575: 3551:. Retrieved 3542: 3533: 3521:. Retrieved 3512: 3503: 3491:. Retrieved 3487:the original 3477: 3465:. Retrieved 3461:the original 3451: 3439:. Retrieved 3425: 3413:. Retrieved 3399: 3387:. Retrieved 3373: 3361:. Retrieved 3322: 3302: 3289:. Retrieved 3280: 3271: 3259:. Retrieved 3250: 3240: 3229:, retrieved 3222:the original 3213: 3206: 3193:. Retrieved 3184: 3174: 3162:. Retrieved 3153: 3143: 3136: 3118: 3106:. Retrieved 3098:The Guardian 3097: 3087: 3075:. Retrieved 3066: 3041:. Retrieved 3026: 3014:. Retrieved 3002: 2990: 2983: 2975: 2963:. Retrieved 2954: 2929:. Retrieved 2920: 2910: 2900:30 September 2898:. Retrieved 2865: 2855: 2835: 2828:FOX Business 2827: 2811: 2799:. Retrieved 2790: 2780: 2773: 2758: 2738: 2726:. Retrieved 2717: 2708: 2695: 2686: 2678: 2662: 2650:. Retrieved 2642:The Guardian 2641: 2631: 2623: 2607: 2576: 2568: 2552: 2544:the original 2539: 2529: 2517:. Retrieved 2506: 2481: 2472: 2459: 2449: 2442:The Guardian 2441: 2425: 2417: 2401: 2389:. Retrieved 2382:the original 2369: 2356: 2346: 2336: 2314:The Guardian 2312: 2304: 2291: 2278: 2261: 2255: 2238: 2232: 2215: 2209: 2189: 2177:. Retrieved 2153: 2141: 2129:. Retrieved 2105: 2092: 2080:. Retrieved 2071: 2061: 2053:the original 2048: 2038: 2026:. Retrieved 2017: 1986: 1980: 1968:. Retrieved 1957: 1945:. Retrieved 1941: 1932: 1920:. Retrieved 1910: 1898:. Retrieved 1894: 1884: 1872:. Retrieved 1867: 1858: 1846:. Retrieved 1841: 1832: 1820:. Retrieved 1811: 1801: 1789:. Retrieved 1780: 1771: 1759:. Retrieved 1730:. Retrieved 1716: 1704:. Retrieved 1700:the original 1675:. Retrieved 1661: 1649:. Retrieved 1645:the original 1572: 1544:26 September 1542:. Retrieved 1516: 1509:. Retrieved 1500: 1491: 1478:|quote= 1457: 1450:. Retrieved 1446:the original 1442:bundestag.de 1441: 1432: 1420: 1404: 1388: 1374: 1365: 1332:. Retrieved 1273: 1261:. Retrieved 1250: 1241: 1229:. Retrieved 1219: 1207:. Retrieved 1197: 1132: 1123: 1099:Japanese yen 1088: 1081: 1073: 1064:Lanny Breuer 1059: 1056: 1051: 1031: 1011:Marcus Agius 1008: 1001: 981: 977:29 July 2007 973: 969: 942: 922: 918: 914: 910: 899: 878:Bloomberg LP 876: 861: 846: 811: 786:deregulation 779: 766:fixed income 755: 739: 721: 709: 690:The city of 689: 665: 657: 653:class action 650: 639: 633: 627: 617: 611: 605: 599: 593: 572: 564: 560: 528: 508: 503:Tim Geithner 478: 450:Ben Bernanke 436:South Dakota 417: 408: 399: 356:price fixing 349: 325: 323: 309:Tim Geithner 306: 294: 279: 243: 240:Thomas Youle 233: 227: 215: 208: 206: 198: 193: 173: 158: 147: 128: 109: 107: 101:, and other 88: 84:member banks 72: 55: 53: 40: 36: 29: 5664:Arab Spring 5573:Non-banking 5305:Tom Petters 5031:(2012–2013) 4975:(2008–2015) 4967:(2008–2011) 4959:(2008–2012) 4919:(2003-2005) 4863:(1999-2006) 4638:HM Treasury 4607:, Belgium, 4428:Lloyds Bank 4175:18 December 4000:20 December 3844:NDTV profit 3697:asic.gov.au 3652:asic.gov.au 3607:asic.gov.au 3251:Le Parisien 2592:Matt Taibbi 2375:"Attendees" 2204:RIA Novosti 1068:extradition 1023:Paul Tucker 1015:Bob Diamond 782:Sandy Weill 672:securitised 622:basis point 579:Tan Chi Min 519:Freddie Mac 481:US Senators 428:Tim Johnson 341:hedge funds 313:Mervyn King 301:Paul Tucker 286:Mervyn King 64:derivatives 5759:Categories 5085:Moser Baer 4781:Polly Peck 4628:Government 3959:. London. 3928:. London. 3707:8 February 3662:8 February 3617:8 February 3586:8 February 3553:14 January 3523:14 January 3108:19 October 3100:. London. 3043:19 October 3016:19 October 2965:15 October 2931:15 October 2868:. London. 2644:. London. 2565:Archive-It 1922:19 October 1501:Euro Money 1190:References 1148:Bank fraud 841:and limit 680:foreclosed 515:Fannie Mae 231:funding." 5283:Tom Hayes 5180:By region 4733:Salad Oil 4646:, Spain, 4331:, Japan, 4323:Citigroup 3231:8 January 3164:28 August 2850:Bloomberg 2753:Bloomberg 2696:Bloomberg 2391:7 January 2218:: 13–14. 2166:1729-701X 2118:1683-0121 1989:. Flint. 1947:31 August 1598:. Reuters 1511:7 January 1252:USA Today 1107:Citigroup 939:Australia 884:told the 796:from the 736:Reactions 692:Baltimore 668:pensioner 492:Mark Kirk 464:) of the 426:Chairman 253:Citigroup 185:WSJ study 165:Tom Hayes 124:Bundestag 43:Andrew Lo 5580:Chrysler 5192:Americas 5124:See also 5093:Wirecard 4917:Parmalat 4909:WorldCom 4901:Adelphia 4765:Guinness 4566:Archived 4553:Archived 4515:Archived 4447:Rabobank 4308:Archived 4262:23 April 4256:Archived 4224:23 April 4218:Archived 4169:Archived 4151:Archived 4125:Archived 4095:cite web 4085:11 March 4076:Archived 4055:Archived 4024:Archived 3994:Archived 3961:Archived 3930:Archived 3874:Archived 3826:Archived 3799:Archived 3771:Archived 3742:Archived 3717:cite web 3701:Archived 3672:cite web 3656:Archived 3627:cite web 3611:Archived 3580:Archived 3547:Archived 3543:ABC News 3517:Archived 3435:Archived 3409:Archived 3383:Archived 3357:Archived 3331:Archived 3311:Archived 3285:Archived 3255:Archived 3189:Archived 3158:Archived 3130:Archived 3102:Archived 3071:Archived 3037:Archived 3007:Archived 2959:Archived 2925:Archived 2894:Archived 2870:Archived 2844:Archived 2820:Archived 2795:Archived 2767:Archived 2747:Archived 2722:Archived 2700:Archived 2671:Archived 2646:Archived 2616:Archived 2584:Archived 2561:Archived 2513:Archived 2486:Archived 2464:Archived 2434:Archived 2410:Archived 2361:Archived 2198:Archived 2170:Archived 2122:Archived 2076:Archived 2022:Archived 1942:Sky News 1816:Archived 1785:Archived 1781:BBC News 1755:Archived 1726:Archived 1671:Archived 1592:Archived 1566:Archived 1538:Archived 1505:Archived 1468:cite web 1393:BBC News 1357:Archived 1328:Archived 1305:Archived 1281:Archived 1263:3 August 1257:Archived 1137:See also 1119:JPMorgan 1084:Rabobank 618:Trader 2 612:Trader 4 606:Trader 3 600:Trader 2 594:Mohideen 496:Illinois 468:, wrote 386:Citibank 361:colluded 5226:Oceania 5219:Iceland 5053:Toshiba 5023:(2012) 5013:Olympus 4885:One.Tel 4813:Banesto 4775:(1990) 4383:30 June 4214:Reuters 3967:10 July 3936:10 July 3905:19 July 3780:11 July 3748:28 June 3740:. BBC. 3493:20 July 3467:21 July 3441:25 July 3415:25 July 3389:25 July 3363:25 July 3291:15 July 3261:12 June 3195:25 July 3067:Fortune 2801:11 July 2728:17 July 2652:10 July 2540:Reuters 2519:20 July 2482:Reuters 2270:1569603 2247:1569603 2224:1569603 2179:11 July 2131:10 July 2082:24 July 2028:13 July 1842:Reuters 1761:27 July 1732:22 July 1706:21 July 1677:25 July 1651:20 July 1425:Reuters 1379:. (An 1334:17 July 1231:17 July 1209:16 July 1153:Fideres 1095:cartels 1044:to the 896:Reforms 120:Reuters 5214:Europe 5187:Africa 5111:(2021) 5103:(2020) 5101:Nikola 5095:(2020) 5087:(2019) 5079:(2018) 5055:(2015) 5015:(2011) 5007:(2011) 4983:(2009) 4981:Satyam 4951:(2008) 4943:(2008) 4935:(2005) 4927:(2004) 4911:(2002) 4903:(2002) 4895:(2001) 4887:(2001) 4879:(2000) 4871:(2000) 4861:Daewoo 4855:(1997) 4847:(1996) 4839:(1995) 4831:(1993) 4823:(1993) 4815:(1993) 4807:(1992) 4799:(1991) 4791:(1990) 4783:(1990) 4767:(1986) 4759:(1983) 4751:(1982) 4743:(1971) 4735:(1963) 4727:(1890) 4719:(1720) 3854:2 July 3185:Forbes 3137:Forbes 2955:Forbes 2268: 2264:: 12. 2245: 2241:: 11. 2222: 2164: 2116: 2112:: 70. 1993: 1970:4 July 1900:12 May 1874:12 May 1848:12 May 1160:, 2013 808:Europe 583:cartel 490:) and 384:, and 5045:Forex 4957:Libor 4893:Enron 4877:CINAR 4377:(PDF) 4362:(PDF) 4105:pp.12 4079:(PDF) 4072:(PDF) 4030:7 May 3774:(PDF) 3767:(PDF) 3225:(PDF) 3218:(PDF) 3077:3 May 3010:(PDF) 2999:(PDF) 2385:(PDF) 2378:(PDF) 2173:(PDF) 2150:(PDF) 2125:(PDF) 2102:(PDF) 1966:. BBC 1822:7 May 1791:7 May 1452:7 May 1164:Fraud 1053:word. 961:Fines 852:' 725:bonds 712:hedge 462:Texas 60:Libor 5481:U.S. 5209:Asia 4925:Tyco 4385:2015 4264:2015 4226:2015 4177:2013 4133:2013 4101:link 4087:2014 4051:Time 4032:2018 4002:2012 3969:2012 3938:2012 3907:2012 3856:2012 3782:2012 3750:2012 3723:link 3709:2016 3678:link 3664:2016 3633:link 3619:2016 3588:2016 3555:2016 3525:2016 3495:2013 3469:2013 3443:2013 3417:2013 3391:2013 3365:2013 3293:2012 3263:2012 3233:2010 3197:2012 3166:2013 3110:2012 3079:2017 3045:2012 3018:2012 2967:2012 2933:2012 2902:2012 2803:2012 2730:2012 2654:2012 2521:2012 2393:2013 2266:SSRN 2243:SSRN 2220:SSRN 2181:2012 2162:ISSN 2133:2012 2114:ISSN 2084:2012 2030:2012 1991:ISBN 1972:2023 1949:2020 1924:2019 1902:2020 1876:2020 1850:2020 1824:2018 1793:2018 1763:2013 1734:2013 1708:2013 1679:2013 1653:2013 1546:2012 1513:2013 1483:help 1454:2018 1336:2012 1265:2012 1233:2012 1211:2012 954:ASIC 880:CEO 821:and 819:SFAF 640:Wong 517:and 488:Iowa 445:and 418:The 374:HSBC 324:The 295:The 255:had 238:and 129:The 118:and 54:The 5029:OCZ 4532:UBS 1373:". 1042:CHF 1034:UBS 829:in 634:Tan 259:of 116:BBC 47:MIT 5761:: 5476:EU 4368:. 4364:. 4254:. 4250:. 4234:^ 4212:. 4199:^ 4149:. 4123:. 4119:. 4097:}} 4093:{{ 4074:. 4053:. 4049:. 4022:. 4018:. 3977:^ 3955:. 3924:. 3891:. 3842:. 3805:, 3719:}} 3715:{{ 3699:. 3695:. 3674:}} 3670:{{ 3654:. 3650:. 3629:}} 3625:{{ 3609:. 3605:. 3574:. 3563:^ 3541:. 3511:. 3342:^ 3279:. 3249:. 3187:. 3183:. 3156:. 3152:. 3096:. 3069:. 3065:. 3053:^ 3001:. 2957:. 2953:. 2941:^ 2923:. 2919:. 2878:^ 2864:. 2789:. 2716:. 2698:. 2694:. 2677:. 2640:. 2622:. 2594:, 2567:. 2538:. 2505:. 2494:^ 2480:. 2462:. 2458:. 2440:. 2416:. 2359:. 2355:. 2335:. 2322:^ 2168:. 2156:. 2152:. 2120:. 2108:. 2104:. 2074:. 2070:. 2047:. 2016:. 2005:^ 1940:. 1893:. 1866:. 1840:. 1814:. 1810:. 1779:. 1742:^ 1687:^ 1619:^ 1603:^ 1580:^ 1554:^ 1524:^ 1515:. 1499:. 1472:: 1470:}} 1466:{{ 1456:. 1440:. 1415:". 1399:". 1355:. 1344:^ 1313:^ 1303:. 1292:^ 1249:. 1079:. 935:. 777:. 748:. 460:, 458:R. 434:, 432:D. 380:, 376:, 372:, 284:, 135:UK 97:, 45:, 5165:e 5158:t 5151:v 4697:e 4690:t 4683:v 4387:. 4266:. 4228:. 4193:. 4179:. 4135:. 4103:) 4089:. 4034:. 4004:. 3971:. 3940:. 3909:. 3858:. 3784:. 3752:. 3725:) 3711:. 3680:) 3666:. 3635:) 3621:. 3590:. 3557:. 3527:. 3497:. 3471:. 3445:. 3419:. 3393:. 3367:. 3295:. 3265:. 3199:. 3168:. 3112:. 3081:. 3047:. 3020:. 2969:. 2935:. 2904:. 2830:) 2826:( 2805:. 2732:. 2656:. 2523:. 2395:. 2272:. 2249:. 2226:. 2183:. 2135:. 2086:. 2032:. 1999:. 1974:. 1951:. 1926:. 1904:. 1878:. 1852:. 1826:. 1795:. 1765:. 1736:. 1710:. 1681:. 1655:. 1548:. 1485:) 1481:( 1338:. 1267:. 1235:. 1213:. 494:( 486:( 456:( 430:( 20:)

Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.