OUT OF MIND
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Latest topics
» An Incredible Thing Happens When Dolphins And Humans Team Up
Royal Bank Subpoenaed in LIBOR Probe EmptyToday at 12:36 pm by PurpleSkyz

» Scientists create incredible light-powered 'fairy' robot
Royal Bank Subpoenaed in LIBOR Probe EmptyToday at 12:32 pm by PurpleSkyz

» UPDATE - “Massive Explosion”: Something Is Happening in the Skies of Montana
Royal Bank Subpoenaed in LIBOR Probe EmptyToday at 12:27 pm by PurpleSkyz

» 55 Performers Collapsing or Dying on Stage or Live Camera in Late 2022 through 2023
Royal Bank Subpoenaed in LIBOR Probe EmptyToday at 12:05 pm by PurpleSkyz

» Second Chinese "Surveillance Balloon" Flying Over Latin America
Royal Bank Subpoenaed in LIBOR Probe EmptyToday at 11:46 am by PurpleSkyz

» Why Are they Killing Us?
Royal Bank Subpoenaed in LIBOR Probe EmptyToday at 11:34 am by PurpleSkyz

» OUT OF MIND SITE HAS BEEN THREATENED
Royal Bank Subpoenaed in LIBOR Probe EmptyToday at 11:15 am by PurpleSkyz

»  Survival First Aid Kit Checklist You Can’t Live Without
Royal Bank Subpoenaed in LIBOR Probe EmptyToday at 1:29 am by PurpleSkyz

» What is ChatGPT and why does it matter? Here's everything you need to know
Royal Bank Subpoenaed in LIBOR Probe EmptyToday at 1:14 am by PurpleSkyz

» Why Are They At War With Chickens?
Royal Bank Subpoenaed in LIBOR Probe EmptyToday at 1:13 am by PurpleSkyz

» Great Reset: Britons Face £300 Fine For Burning Wood to Keep Warm
Royal Bank Subpoenaed in LIBOR Probe EmptyToday at 12:21 am by bs4ever

» About that Giant Chinese Spy Balloon
Royal Bank Subpoenaed in LIBOR Probe EmptyYesterday at 7:32 pm by PurpleSkyz

» Bad-clown Rising - Stories
Royal Bank Subpoenaed in LIBOR Probe EmptyYesterday at 12:34 pm by PurpleSkyz

» Moderna Booster Vaccine Singled Out for Chronic Hives + More
Royal Bank Subpoenaed in LIBOR Probe EmptyYesterday at 11:55 am by PurpleSkyz

» Momo Zhou dead at 31: History-making darts star passes away suddenly as tributes pour in
Royal Bank Subpoenaed in LIBOR Probe EmptyYesterday at 11:50 am by PurpleSkyz

» The Pfizer Exec Who Confessed to Project Veritas Now Tells Me the Whole Truth by Jon Rappoport
Royal Bank Subpoenaed in LIBOR Probe EmptyYesterday at 11:48 am by PurpleSkyz

» WWE Legend Dies Suddenly Before SmackDown
Royal Bank Subpoenaed in LIBOR Probe EmptyYesterday at 11:45 am by PurpleSkyz

» Autopsy Analysis Finds ‘Global Myocardial Injury' After 2nd Pfizer Covid Shot
Royal Bank Subpoenaed in LIBOR Probe EmptyYesterday at 11:41 am by PurpleSkyz

» Mislabeling Vaccination Deaths for 50 Years
Royal Bank Subpoenaed in LIBOR Probe EmptyYesterday at 11:32 am by PurpleSkyz

» “Listen, they are not predicting food shortages, they’re planning them!!”…
Royal Bank Subpoenaed in LIBOR Probe EmptyYesterday at 11:25 am by PurpleSkyz

» Hunter Biden Admits Infamous Laptop Belongs To Him, Calls For Criminal Probe Into Attempts To 'Weaponize' Contents LMFAO!!!!
Royal Bank Subpoenaed in LIBOR Probe EmptyYesterday at 11:07 am by PurpleSkyz

» 'The Scandal Would Be Enormous': Pfizer Director Worried About Vax-Induced Menstrual Irregularities
Royal Bank Subpoenaed in LIBOR Probe EmptyYesterday at 10:51 am by PurpleSkyz

You are not connected. Please login or register

Royal Bank Subpoenaed in LIBOR Probe

Go down  Message [Page 1 of 1]

1Royal Bank Subpoenaed in LIBOR Probe Empty Royal Bank Subpoenaed in LIBOR Probe Wed Oct 31, 2012 9:15 am

PurpleSkyz

PurpleSkyz
Admin

Royal Bank Subpoenaed in LIBOR Probe
POSTED BY NESARAAUSTRALIA ⋅ OCTOBER 31, 2012 ⋅ LEAVE A COMMENT
FILED UNDER BUSINESS, POLITICS, SCIENCE, TRANSPORTATION
The Canadian Press – October 26, 2012

http://tinyurl.com/9daohjp

There are reports that Royal Bank of Canada has been served with a subpoena from U.S. state officials as part of their probe into the possible manipulation of a key benchmark used to set interest rates.

The Wall Street Journal and other business publication report the subpoenas were issued to nine banks, including RBC, in August and September, according to an unidentified person familiar with the investigation.

That brings to 16 the number of banks served with subpoenas, including seven that had become public earlier.

Global investigation

The U.S. investigation by the New York and Connecticut attorneys general is part of a wider probe in several countries that stems from a major U.K. bank’s admission that it had provided false information used to set the LIBOR rate.

RBC is Canada’s largest bank, with operations in major financial centres around the world including London.

The bank said last summer that it followed the rules in submitting information for compiling the London Interbank Offered Rate, which is used widely as a benchmark to set interest rates on business and consumer debts.

That assurance was repeated Friday in RBC’s response to the news reports.

“We have determined that our Libor submissions reflected our cost of funds,” said Gillian McArdle, head of communications for Canada at RBC Capital Markets.

Rate-fixing alleged

The rate is set by gathering information from a small number of large banks, using a system that’s intended to prevent any one member of the group from manipulating the rate.

Questions about how LIBOR is operated arose after Barclays Bank agreed to pay a record $450 million fine to settle allegations its traders had manipulated submissions to LIBOR.

While Barclays actions by themselves were probably insufficient to affect LIBOR, there authorities in Britain and elsewhere have launched probes to see if it was a more widespread problem.

Canada’s competition bureau and other Canadian regulatory bodies launched their own probes in light of the Barclay’s revelations but there have been no allegations levelled against RBC.

Thanks to: http://nesaraaustralia.com



  

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum