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
» Czech Prime Minister Ends Vaccine Mandates: ‘We Do Not Want to Deepen the Rifts in Society’
Royal Bank Subpoenaed in LIBOR Probe EmptyToday at 2:49 pm by PurpleSkyz

» Former White House Physician Demands Biden Take Cognitive Test After Weird Presser Breakdown
Royal Bank Subpoenaed in LIBOR Probe EmptyToday at 1:26 pm by PurpleSkyz

» Ghislaine Maxwell files for a RETRIAL
Royal Bank Subpoenaed in LIBOR Probe EmptyToday at 1:21 pm by PurpleSkyz

» Curiosity rover finds possible evidence of life on Mars
Royal Bank Subpoenaed in LIBOR Probe EmptyToday at 1:13 pm by PurpleSkyz

»  US Airlines: ‘Dangerous 5G Rollout Will Grind Commerce to a Halt’
Royal Bank Subpoenaed in LIBOR Probe EmptyToday at 12:26 pm by PurpleSkyz

» Parents Outraged Over Photo of Teacher Taping Mask to Child’s Face
Royal Bank Subpoenaed in LIBOR Probe EmptyToday at 12:20 pm by PurpleSkyz

» Pandemic Narrative Undergoes Radical U-Turn
Royal Bank Subpoenaed in LIBOR Probe EmptyToday at 12:12 pm by PurpleSkyz

» NHS Doctor Tells Patient NOT to Take Covid Vaccine Because They Will Be PULLED Soon
Royal Bank Subpoenaed in LIBOR Probe EmptyToday at 11:57 am by PurpleSkyz

» Maine Doctor Loses License, Ordered to Undergo Psych Evaluation for Treating Covid Patients with Ivermectin, ‘Spreading Covid Misinformation’
Royal Bank Subpoenaed in LIBOR Probe EmptyToday at 11:48 am by PurpleSkyz

» The doctor who quit her job after being suspended for promoting ivermectin, criticizing mandates sues Houston Methodist
Royal Bank Subpoenaed in LIBOR Probe EmptyToday at 11:42 am by PurpleSkyz

» EUDRA Stats thru January 15th, 2022
Royal Bank Subpoenaed in LIBOR Probe EmptyToday at 11:37 am by PurpleSkyz

» The Political Timing of the End of the Pandemic
Royal Bank Subpoenaed in LIBOR Probe EmptyYesterday at 7:54 pm by PurpleSkyz

» Australia throws Novak Djokovic out of the country, declares no unvaccinated athlete is welcome
Royal Bank Subpoenaed in LIBOR Probe EmptyYesterday at 7:50 pm by PurpleSkyz

» False Flags Suddenly No Longer A Crazy Conspiracy Theory
Royal Bank Subpoenaed in LIBOR Probe EmptyYesterday at 7:45 pm by PurpleSkyz

» Five nurses speak out about what is really going on in hospitals
Royal Bank Subpoenaed in LIBOR Probe EmptyYesterday at 1:51 pm by vhud

» Boris Johnson: "The government will no longer mandate the wearing of face masks"
Royal Bank Subpoenaed in LIBOR Probe EmptyYesterday at 11:35 am by PurpleSkyz

» Updated Info: Olympic Sprinter Announces Pericarditis Diagnosis on Facebook Following Pfizer Booster Jab
Royal Bank Subpoenaed in LIBOR Probe EmptyYesterday at 11:10 am by PurpleSkyz

» Dr. Reiner Fuellmich: Latest Bombshell About COVID “Vaccines” W
Royal Bank Subpoenaed in LIBOR Probe EmptyYesterday at 11:08 am by PurpleSkyz

» Astronomers Analyze Impact of SpaceX’s Starlink Satellites
Royal Bank Subpoenaed in LIBOR Probe EmptyYesterday at 11:01 am by PurpleSkyz

» Canadian Business Owners Fight Back Against New Lockdowns
Royal Bank Subpoenaed in LIBOR Probe EmptyYesterday at 10:57 am by PurpleSkyz

» Good People Doing Good Things — Little Things Mean A Lot
Royal Bank Subpoenaed in LIBOR Probe EmptyYesterday at 10:44 am by PurpleSkyz

» VAXXED Blood - The Issue of Transfusions
Royal Bank Subpoenaed in LIBOR Probe EmptyYesterday at 10:30 am by PurpleSkyz

You are not connected. Please login or register

OUT OF MIND » THE INSANITY OF REALITY » GLOBAL FINANCIAL COLLAPSE » Royal Bank Subpoenaed in LIBOR Probe

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