Arab Today, arab today fdic files lawsuit on behalf of banks allegedly hurt by libor scandal
Last Updated : GMT 18:22:15
Arab Today, arab today
Arab Today, arab today

FDIC files lawsuit on behalf of banks allegedly hurt by Libor scandal

Arab Today, arab today

Arab Today, arab today FDIC files lawsuit on behalf of banks allegedly hurt by Libor scandal

New York - UPI

The Federal Deposit Insurance Corp. alleges that 16 U.S. banks made money for themselves, and ruined other banks, by manipulating international interest rates. A lawsuit filed Friday in federal court in New York names banks that sat on the board involved in setting the London Interbank Offered Rate -- or Libor. Libor is an important benchmark for setting interest rates on loans in many currencies, ranging from student loans and home mortgages to financial instruments like derivatives. The FDIC said it was suing on behalf of banks forced out of business by the global financial crisis. The defendants include giants like Bank of America, Citigroup and JPMorgan Chase. The manipulation helped the banks charge higher underwriting fees "to the detriment of the closed banks and other consumers," the FDIC said in its complaint. The Royal Bank of Scotland and Barclays in Britain, UBS in Switzerland and Rabobank in the Netherlands have been fined for their role in the Libor scandal.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today fdic files lawsuit on behalf of banks allegedly hurt by libor scandal Arab Today, arab today fdic files lawsuit on behalf of banks allegedly hurt by libor scandal

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today fdic files lawsuit on behalf of banks allegedly hurt by libor scandal Arab Today, arab today fdic files lawsuit on behalf of banks allegedly hurt by libor scandal

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday