In an emailed statement on 3 Febraury, the Swiss competition watchdog has stated that Libor, and its Japanese equivalent Tibor, may have influenced collusion between derivative traders.
Libor is used to determine the price of many financial derivatives, including interest-rate futures, swaps and eurodollars. Due to London's importance as a global financial centre, Libor applies not only to pound sterling, but also to major currencies such as the US dollar, Swiss franc, Japanese yen an...
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