Saturday, September 1, 2012

Libor interest rate 2012-2013

Libor interest rate 2012-2013 : The series of scandals that have hit UK banks in recent months has damaged their prospects for restoring credit-worthiness, a leading ratings agency warned.

Libor-rigging, compensation for mis-sold payment protection insurance and interest-rate swaps to small businesses, money laundering allegations and IT failures will reduce earnings for the rest of 2012 and into 2013

Few emerge unscathed from the Treasury Select Committee's 300-page report and annexes, based on a string of high-profile hearings after Barclays was fined a record $453 million (288 million pounds) on June 27 for manipulating the London Interbank Offered Rate or Libor. read more

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