Libor Rate-Rigging Results in Record Fines, Arrests
Feb. 1 (Bloomberg) -- The London interbank offered rate is the basis for more than $300 trillion of securities. The banks that set the rate stand accused of rigging it for years to boost profits. Five years after alarm bells first sounded, regulators are handing out fines and criminal sanctions to those responsible for rate manipulation. This story is featured in the March issue of Bloomberg Markets Magazine. Bloomberg Television's Mark Barton reports. (Source: Bloomberg)
Most Recent Videos
BNP Paribas 2Q Net Profit Beats Estimate
53:00 - BNP Paribas SA, France’s largest bank, posted second-quarter profit that was little changed as a surge in bond trading was offset by a drop in equities and low interest rates hampered consumer banking. Net income was 2.56 billion euros ($2.8 billion), up 0.2 percent from a year earlier, the Paris-based bank said in a statement Thursday, That’s above the 2.2 billion-euro average estimate of seven analysts compiled by Bloomberg. The bank recorded pretax gains from exceptional items, including selling its stake in Visa Europe, of 285 million euros, about the same as last year’s level. Chief Financial Officer Lars Machenil discusses earnings with Bloomberg's Caroline Connan.