Interest-Rate Ruse: Understanding the LIBOR Scandal

As the litigation continues, one can expect institutional investors with large claims to opt out of class actions and pursue individual federal and state law claims.

August 15, 2012

Law360, New York (August 15, 2012, 12:28 PM ET) -- The alleged manipulation of the London Interbank Offered Rate (Libor) has received prominent media coverage this summer, drawing scrutiny of both leading banks and their regulators.

Libor is the average interest rate at which a panel of the world’s largest banks report they could borrow unsecured funds from other banks in the London wholesale money market for maturities ranging from overnight to one year. Libor is calculated for 10 different currencies and is a primary interest-rate benchmark used to price numerous financial instruments, including mortgage loans, floating-rate bonds and interest-rate swaps. The value of derivatives and other financial products tied to Libor is estimated as at least $350 trillion.

All Content © 2003-2012, Portfolio Media, Inc. 

The articles on our website include some of the publications and papers authored by our attorneys, both before and after they joined our firm. The content of these articles should not be taken as legal advice. The views and opinions expressed in this article are those of the author(s) and do not necessarily reflect the views or official position of Robins Kaplan LLP.


Related Publications

November 22, 2022
October 2022
In No Uncertain Terms
Bryan Mechell - The Robins Kaplan Quarterly
September 28, 2021
Briefly: Federal appeals: How much notice is enough?
Stephen Safranski and Geoffrey Kozen - Minnesota Lawyer
Summer 2021
IATL President's Letter on Judicial Security
Roman Silberfeld - The Robins Kaplan Quarterly: Tackling Tough Business Litigation Matters
October 1, 2020
How The Music Industry Can Weather COVID-19
Carly Kessler, Lauren Birkenstock - Law360
Back to Top