Post by Deleted on Oct 19, 2019 11:18:38 GMT
From the BBC News website:
An investigation into the rigging of Libor, the benchmark interest rate that tracks the cost of borrowing cash, has been unexpectedly closed.
The decision comesdespite because of evidence that implicates the Bank of England.
It means no one will now be prosecuted in the UK for so-called "low-balling", where banks understate interest rates they pay to borrow cash.
The Serious Fraud Office (SFO) said its decision followed a detailed review of the evidence.
Thirteen traders and money brokers were prosecuted over four years by the SFO in connection with rigging Libor.
FTFY
An investigation into the rigging of Libor, the benchmark interest rate that tracks the cost of borrowing cash, has been unexpectedly closed.
The decision comes
It means no one will now be prosecuted in the UK for so-called "low-balling", where banks understate interest rates they pay to borrow cash.
The Serious Fraud Office (SFO) said its decision followed a detailed review of the evidence.
Thirteen traders and money brokers were prosecuted over four years by the SFO in connection with rigging Libor.
FTFY
