Reuters: Regulatory News: UK orders review of interbank rates

Reuters: Regulatory News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UK orders review of interbank rates Jun 30th 2012, 11:30 LONDON, June 30 | Sat Jun 30, 2012 7:30am EDT LONDON, June 30 (Reuters) - The British government has ordered an independent review into the workings of interbank lending rates, known as the London Interbank Offer Rate (LIBOR), a spokeswoman for Britain's Prime Minister said on Saturday. The decision follows news earlier this week that U.S. and British authorities fined Barclays $450 million for manipulating the rate at which banks lend to each other overnight. More banks are expected to be drawn into the scandal as the investigation continues and the affair has fuelled public outrage at the culture and practices of the banking industry. No further details of the review were available.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions