FDIC Sues Major Banks For Alleged Libor Rigging

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FDIC Sues Major Banks For Alleged Libor Rigging
FDIC

The recent lawsuit from the FDIC is the latest skirmish in a global investigation into Libor, which is used in setting rates on $800 trillion of loans and securities.

The Federal Deposit Insurance Corporation said the defendants’ conduct caused substantial losses to 38 banks that the U.S. regulator had taken into receivership since 2008.

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Libor rigging

Libor, or the London Interbank Offered Rate, is a