This note summarises some of the key points relating to the LIBOR scandal. It looks at issues surrounding public inquiries and at the role and limitations of the FSA’s disciplinary powers.
LIBOR, Public Inquiries & FSA/FCA Disciplinary Powers (759 KB , PDF)
Barclays Bank, and others have been accused of trying to manipulate various LIBOR related interest rates after an investigation by UK and US regulators. Se ven institutions have now paid substantial fines. The Lloyds Banking Grouip has admitted REPO rate manipulation to reduce the cost, to it, of taxpayer support. The manipulation happened over a number of years by many people and for different reasons. There is a debate about what form a public inquiry into general banking matters might take and about the current limits to the FSA’s disciplinary powers.
LIBOR, Public Inquiries & FSA/FCA Disciplinary Powers (759 KB , PDF)
In response to Russian military action in Ukraine, Western allies and other partners across the globe have imposed an unprecedented package of coordinated sanctions against Russia. What has been announced and are further measures likely? This briefing paper should be taken as correct at the time of writing.
An overview of policy relating to the closure of bank and building society branches and to efforts to protect access to cash.
Household debt: Data on the latest household debt statistics, including net lending, mortgage interest rates and insolvencies.
