Rabobank In $1 Billion Deal To Settle Libor Probe

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Mani
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Rabobank Group is said to pay $1 billion fine to resolve British and U.S. regulator’s claims over their Libor probe. Caroline Binham, Daniel Schäefer and Kara Scannell of the Financial Times report the Netherlands’ biggest mortgage lender would face the fine as early as next week. Libor scandal Banks and financial Institutions have allegedly manipulated LIBOR between 2005 and 2010 by misguiding the interest rates at which they were able to borrow. Since the scandal broke out, many inquiries were conducted globally on various banks and brokerage firms over LIBOR rigging. London Interbank Offered Rate, or LIBOR, is the standard…

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Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports