US knew of Lloyds’ role in Libor scandal

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US knew of Lloyds’ role in Libor scandal

The Telegraph – Lloyds Banking Group may have been rigging its Libor submissions as early as August 2007, explosive documents released tonight by the Federal Reserve of New York suggest. The whistleblower explains the improbability of the submission before saying: “Draw your own conclusions about why people are going for unrealistically low libors.” The claims about part-nationalised Lloyds, which is the second British bank to be implicated by US regulators after Barclays, emerged hours after Sir Mervyn King was drawn into the middle of the Libor scandal by a leak from the same batch of documents. Read article

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