30 years: Capital markets & investment banking
Peter explains how some traders submitting LIBOR rates were colluding to manipulate rates to suit their positions and generate huge profits.
Peter explains how some traders submitting LIBOR rates were colluding to manipulate rates to suit their positions and generate huge profits.
2 mins 35 secs
Banks submitting rates for LIBOR colluded to suit their own positions, leading to regulatory reforms.
Key learning objectives:
Outline the initial reforms in the UK and Europe
Learn why banks manipulated LIBOR
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