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From parliament and from jurors in criminal trials of traders for manipulating interest rates. regulators say they ve met their disclosure obligations. 0ur economics correspondent andy verity has led the investigation. reminders of the significance of libor and euribor. reminders of the significance of libor and euribor. whether interest rates on your libor and euribor. whether interest rates on your mortgage libor and euribor. whether interest rates on your mortgage a libor and euribor. whether interest rates on your mortgage a personall rates on your mortgage a personal loan, then us based on central business interest rates, they re based on how much it cost banks to borrow cash and libor and euribor keep track of those. every morning banks are asked questions about interest rates borrow cash and they give their answers and it may be 3.53 or it may be 3.56 or 3.54, they take an average of all of those and they get an average interest rate which is liborfor sterling and euro eur ....
Wrestled in front of a home crowd until an invite to appear at pro wrestling chaos s show a few minutes from his home. and the first thing he did after winning his match on home turf? giving his mum a big, sweaty hug, of course. ben thompson with business. we have a fine sedating investigation into the rigging of interest rates at the heart of the financial crisis. evidence has emerged that uk and us regulators were informed of an international, state led drive to manipulate interest rates in the 2008 financial crisis but covered it up. this morning the times newspaper and the bbc publish quotes from a previously secret interview with a barclays cash trader who gave evidence of moves by central banks and the uk government to artificially push down the benchmark interest rates libor and euribor. that evidence was withheld from parliament and from jurors in criminal trials of traders for manipulating interest rates. regulators say they ve met their disclosure obligations. our economi ....
Never happens. this is still in the first steps in the beginning of this process and i think now real madrid have entered with a complaint to the spanish prosecutors, this might speed up things a little bit. it might be the beginning of a change. thank you and good to talk to you. evidence has emerged that uk and us regulators were informed of an international, state led drive to manipulate interest rates in the 2008 financial crisis but covered it up. this morning the times newspaper and the bbc publish quotes from a previously secret interview with a barclays cash trader who gave evidence of moves by central banks and the uk government to artificially push down the benchmark interest rates libor and euribor. that evidence was with held from parliament and from jurors in criminal trials of traders for manipulating interest rates. regulators say they ve met their disclosure obligations. ....
As to do with traders making requests for libor or euribor to go up or down when their banks make their estimates. what we re less used to hearing about is a whole other story that years of investigation have uncovered. audio recordings and various other material reveals that central banks and governments were involved in trying to push libor and euribor down during the 2008 financial crisis. you might say, well, that s history, and 2019, 37, traders were prosecuted for rigging libor and euribor, but the juries in their trials never got to hear evidence like this audio. this phone call between a barclays executive, mark dearlove, instructing peterjohnson, a cash trader at barclays, to lower his libors on instructions from above. have a listen. the bottom line is you re going to absolutely hate this, and i ve spoken to spence about it as well, but we ve had some very serious ....
Instructions, peterjohnson, who later went to jail for interest rate manipulation. his instructions given by the person who was later promoted to be a senior executive at barclays and mentioning pressure from the uk government and bank of england. when parliament inquired into that in 2012, they were not told anything about the type or anything about other audio and documentary evidence which shows notjust the bank of england or the uk government being involved, but peterjohnson told about the involvement of the federal reserve bank of new york, reports they were pushing it down and also data which you can check that the french banks all dropping as well there euribor rates and more that they had done before euribor began. record drops in right along national lines. you report the markets, bend when you have a whole market thing, it doesn t happen along national lines when the euro market is international for that indication of corded national bank pressure to interest rates. fiend co ....