Wednesday, 19 October 2011

Deutsche Bank's London Offices Raided

Deutsche Bank's London offices were raided this week, in an EU-wide investigation into suspected fixing of interbank lending benchmark Euribor.

It is the third major probe into banking this year after separate investigations into credit default swaps, including a probe into whether banks manipulated another interbank lending benchmark, the London interbank offered rate, as well as one into cross-border bank payments.
Euribor is a benchmark rate that banks refer to when fixing a price on interbank euro loans.

The move comes alongside an investigation by enforcement agencies in the United States, Europe and Japan into whether the London Interbank Offered Rate (Libor) was manipulated during the last financial crisis.

Economic Warfare.

For more on German manipulation, read Another Siemens Overspend

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