Canada has several major banks and many schedule II banks – but with rates and plans all over the map, it’s difficult to know where to bring your business. Our aim is to help you navigate Canada’s banking options to discover which one suits your needs best.
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2 British ex-bankers convicted of all charges in US trial over LIBOR interest rate scandal
– canadianbusiness.com
NEW YORK, N.Y. – Two British ex-bankers were convicted of all charges when a jury in New York City agreed that they conspired to influence interest rates in a manner that would earn money for their bank.
The verdict was returned Thursday in Manhattan federal court against Anthony Allen and Anthony Conti.
The U.S. Justice Department accused the men of abusing their positions at the Dutch bank Rabobank to manipulate interest rates.
Government lawyers said they were able to do so because Rabobank was one of the banks that submitted an estimate of what it cost for banks in London to borrow from one another. The Long Interbank Offered Rate, or LIBOR, was used as a benchmark in setting interest rates around the world.
Sentencing was scheduled for March.
The post 2 British ex-bankers convicted of all charges in US trial over LIBOR interest rate scandal appeared first on Canadian Business – Your Source For Business News.
The verdict was returned Thursday in Manhattan federal court against Anthony Allen and Anthony Conti.
The U.S. Justice Department accused the men of abusing their positions at the Dutch bank Rabobank to manipulate interest rates.
Government lawyers said they were able to do so because Rabobank was one of the banks that submitted an estimate of what it cost for banks in London to borrow from one another. The Long Interbank Offered Rate, or LIBOR, was used as a benchmark in setting interest rates around the world.
Sentencing was scheduled for March.
The post 2 British ex-bankers convicted of all charges in US trial over LIBOR interest rate scandal appeared first on Canadian Business – Your Source For Business News.
