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In the News

Deutsche fined again over LIBOR rigging

Geoff Riley

26th October 2017

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The rigging of interest rates is a cause of financial market failure. Deutsche Bank has been fined again over their involvement in the LIBOR scandal.

The new fine will be paid to 45 US states after the investigation found that Germany's largest lender manipulated inter-bank lending rates.

Libor is the interest rate at which banks lend money to each other and it sets a benchmark for mortgages and loans for regular customers

BBC news on how LIBOR was rigged

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Geoff Riley

Geoff Riley FRSA has been teaching Economics for nearly forty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD and Revision conferences in the UK and overseas.

@tutor2uGeoff

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