STOCK MARKET WATCH - Friday, 17 February 2012

[Roland99]

78. Bank tells regulators of Libor manipulation: WSJ

http://www.marketwatch.com/story/bank-tells-regulators-of-libor-manipulation-wsj-2012-02-16

A major bank has admitted to regulators that traders and brokers manipulated the London interbank offered rate (Libor), used to set lending interest rates around the world, The Wall Street Journal reported late Thursday. The cooperating bank, which unnamed sources identified as UBS AG, told Canadian investigators that those involved in the alleged scheme "were able to move" the yen Libor at times between 2007 and June 2010, the report said. No charges have been brought in the international probe into rate fixing, although some people have been fired or suspended by major U.S. and European banks and brokers, the report said.