Rabobank In $1 Billion Deal To Settle Libor Probe

Rabobank Group is said to pay $1 billion fine to resolve British and U.S. regulator’s claims over their Libor probe. Caroline Binham, Daniel Schäefer and Kara Scannell of the Financial Times report the Netherlands’ biggest mortgage lender would face the fine as early as next week. Libor scandal Banks and financial Institutions have allegedly manipulated LIBOR between 2005 and 2010 by misguiding the interest rates at which they were able to borrow. Since the scandal broke out, many inquiries were conducted globally on various banks and brokerage firms over LIBOR rigging. London Interbank Offered Rate, or LIBOR, is the standard…