Arab Today, arab today ny state widens libor probe
Last Updated : GMT 22:28:34
Arab Today, arab today
Arab Today, arab today

NY state widens Libor probe

Arab Today, arab today

Arab Today, arab today NY state widens Libor probe

New York - UPI

New York State has issued nine more subpoenas in its investigation of manipulation of the London inter-bank offered rate, a source told CNNMoney. The state sent subpoenas to Barclays, Citigroup, Deutsche Bank, HSBC, JPMorgan, Royal Bank of Scotland and UBS in mid-summer. The source said New York State Attorney General Eric Schneiderman in late August sent subpoenas to nine others -- including Bank of America, Credit Suisse, Societe Generale, Royal Bank of Canada, Rabobank, Norinchukin Bank, Lloyds Banking Group, Bank of Tokyo Mitsubishi UFJ and WestLB. The Libor scandal became public in June, when regulators announced Barclays had agreed to pay $450 million for trying to manipulate the Libor for its own advantage. The Libor is supposed to be the average interest rate that large banks charge each other for loans. Before the scandal, it had been compiled by the British Bankers Association. Barclays was charged with first sending in fraudulent numbers to make the bank appear more healthy than it actually was during the financial crisis of 2008. After that, it was charged with tampering with the numbers at the behest of various bank divisions that were trying to ramp up profits on various deals. The Libor is used as a benchmark to set rates for as much as $10 trillion in loans and $350 trillion in derivatives, CNNMoney said.

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 ny state widens libor probe Arab Today, arab today ny state widens libor probe

 



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 ny state widens libor probe Arab Today, arab today ny state widens libor probe

 



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: قضايا ساخنة
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