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Scandals involving major financial institutions continue to rock the banking world, the latest of which involves UBS that is being accused of manipulating London interbank offered rates or Libor. Libor, extensively used by banks all over the world particularly in the US and Europe, is the benchmark for determining average interest rates on virtually everything from home loans to credit cards to pension funds and municipal bonds.

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EL SALVADOR AND JAMAICA

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Scandals involving major financial institutions continue to rock the banking world, the latest of which involves UBS that is being accused of manipulating London interbank offered rates or Libor. Libor, extensively used by banks all over the world particularly in the US and Europe, is the benchmark for determining average interest rates on virtually everything from home loans to credit cards to pension funds and municipal bonds.

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abtest

Libor scandal rocks banking world

December 18, 2012 - 12:00am

Scandals involving major financial institutions continue to rock the banking world, the latest of which involves UBS that is being accused of manipulating London interbank offered rates or Libor. Libor, extensively...

Business