Economy - Voice of America: EU Calls for Criminal Penalties on Interest-Rate Rigging

Economy - Voice of America economy-and-business

EU Calls for Criminal Penalties on Interest-Rate Rigging Jul 25th 2012, 17:56 The European Union says manipulating a benchmark interest rate in London should be a criminal offense. The EU called Wednesday for its 27 member states to set criminal penalties for rigging interest rates to affect the LIBOR [London Interbank Offered Rate], a key rate that is used worldwide to set borrowing costs on trillions of dollars of contracts, loans and mortgages held by businesses and consumers. The European Union did not say what the penalties should be, leaving that up to individual ... Media files: 8C5764E7-FA14-4CDF-8DBA-390FD2D0D488_cx0_cy3_cw0_w800_r1.jpg (image/jpeg, 0 MB)

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