Regulator Slept as Rabobank Rigged Libor, Lawmakers Say

The Dutch central bank failed to act after receiving signals Rabobank Groep was involved in rigging benchmark interest rates, members of Parliament said.

“We have the impression regulators were sleeping,” Aukje de Vries of the governing Liberal Party, or VVD, said in Parliament in The Hague today. “The Dutch central bank blames Rabobank’s management for not picking up signals. Yet regulators could have asked Rabobank what was going on when they saw those first signals themselves.”