The probe of Libor manipulation is proving to be the tip of the
iceberg as inquiries into assets from derivatives to foreign exchange
show that if there’s a chance to rig benchmark rates in world markets,
someone is usually willing to try.
Singapore’s monetary authority last week censured 20 banks for attempting to fix interest rate levels in the island state and ordered them to set aside as much as $9.6 billion. Britain’s markets regulator is looking into the $4.7 trillion-a-day currency market after Bloomberg Newsreported that traders have manipulated key rates for more than a decade, citing five dealers.
http://www.bloomberg.com/news/2013-06-16/rigged-benchmark-probes-proliferating-from-singapore-to-london.html
Singapore’s monetary authority last week censured 20 banks for attempting to fix interest rate levels in the island state and ordered them to set aside as much as $9.6 billion. Britain’s markets regulator is looking into the $4.7 trillion-a-day currency market after Bloomberg Newsreported that traders have manipulated key rates for more than a decade, citing five dealers.
http://www.bloomberg.com/news/2013-06-16/rigged-benchmark-probes-proliferating-from-singapore-to-london.html