Thursday 20 December 2012
Libor scandal hits Switzerland's UBS
A man walks past a logo of Swiss bank UBS in Zurich
Reuters/Arnd Wiegmann/Files
By Hayley Corbett

The Swiss bank UBS has been fined 1.5 billion euros by regulators for manipulating key global interest rates. UBS was found to have rigged the Libor - the rate at which banks lend each other money. The fine follows a similar fine for British bank Barclays of nearly 350 million euros in June. That was also for manipulating the Libor rates. With more than a dozen other banks implicated in the Libor scandal, more fines are expected, explains analyst Jan Randolph.
 

Related articles
React to the article
Commentez cette article en tapant votre message dans la zone de texte. Le nombre de caractères est limité à 1500 ou moins.
(0) Réactions
Close