Ex-RBS trader details bank's Libor fixing

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Ex-RBS trader details bank’s Libor fixing

Ex-RBS trader details bank’s Libor fixing

Reuters-

A former dealer for the Royal Bank of Scotland Group PLC (RBS.L) has provided fresh details on how traders at the British bank tried to influence Libor rates, court documents filed in Singapore show.

Tan Chi Min, who is suing RBS for wrongful dismissal, alleges that the bank’s minutes of his disciplinary meeting held in September last year did not accurately reflect what was discussed and omitted details of conversations about how traders at the bank tried to influence RBS’s interbank lending rate submissions.

More than a dozen banks are currently under investigation by regulators in the United States, Europe and Asia for suspected rigging of the London interbank offered rate (Libor), which is used to price trillions of dollars worth of financial products.

[REUTERS]

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