Home > Legal Articles > Libor Rate Still ‘Not Clean’

Libor Rate Still ‘Not Clean’

Posted on Thursday, 21st February 2013 by
5441996056_09c11a8dd4
Photo Credit: Stuck in Customs via Compfight cc
BBC news is reporting today that a top US regulator has told the broadcaster the Libor rate was often ‘completely made up’ and there is a ‘lot more work to do’.
Mr Gensler is in the UK as the chairman of the Commodities Future Trading Commission and is due to meet the FSA and officials in London this week.
The Libor rate scandal continues after being uncovered in summer 2012 after it was claimed banks were rigging the value claimed as the cost of borrowing from other banks.  The full extent of the issue remains unclear but it seems commentators are agreed the volume of compensatory payments will be significantly higher than first anticipated as the true scope of the rigging is revealed.
At Edward Hands & Lewis we are monitoring these events closely as we act for a number of clients adversely affected by the Libor rate scandal.  We will continue to drive their cases toward resolution and if you wish to discuss your own financial claim please do not hesitate to contact Paul Stubbs on 0116 2665394 or by email addressed to paul.s@ehlsolicitors.co.uk

Paul is our Managing Director in Leicester. All of our staff in Leicester are experts in their fields and dedicated to quality client care. If you would like to find out more about our solicitors in Leicester please contact us.

Keep up to date with our daily blogs through the Edward Hands & Lewis mobile app, just search Edward Hands on the iPhone or Android store to download our app for free.
Talk to our legal team

The information provided in all of our blogs reflects only a narrative of some elements to consider on the topic. The blogs do not contain considered legal advice and should not be relied upon as advice. Please see our website terms and conditions for full details of our disclaimer. If you are interested in obtaining advice, please contact one of our lawyers who will be happy and able to advise you on your own particular circumstances.

[]
1 Step 1

Quick Quote

Your Nameyour full name
Contact Number
Post Codeyour full name
Your Messagemore details
0 /
Previous
Next

Paul Stubbs - Litigation
Paul Stubbs - Litigation
paul.s@ehlsolicitors.co.uk 01332 862 113
Related author articles
Article tags

Map and pin icon
Sign up to our newsletter
  ERROR: 8 - CURL error: