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barclays bank
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Confirmed: Barclays Not Alone, As Chairman Quits
02 Jul 2012 by Bearded Wiseman / No Comments
The Financial Services Authority (FSA), the regulator of all providers of financial services in the UK, has today confirmed that Barclays was definitely not acting alone, nor was this an isolated case in the authorities’ probe of banks rigging a key interbank interest rate.
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Barclays Fined £290 Million Over Libor Fixing
28 Jun 2012 by Bearded Wiseman / 1 Comment
Well this is terribly worrying. Yesterday, Barclays bank – one of the biggest banks in the world – was fined a record £290 million for attempting to manipulate the world’s benchmark borrowing rate – the Libor. This is a huge blow to the bank’s reputation and raises questions over the future of chief executive Bob Diamond. Up to 40 other global banks face being named and shamed too.
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