Deutsche fined again over LIBOR rigging | tutor2u Economics
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Deutsche fined again over LIBOR rigging

The rigging of interest rates is a cause of financial market failure. Deutsche Bank has been fined again over their involvement in the LIBOR scandal.

The new fine will be paid to 45 US states after the investigation found that Germany's largest lender manipulated inter-bank lending rates. 

Libor is the interest rate at which banks lend money to each other and it sets a benchmark for mortgages and loans for regular customers

BBC news on how LIBOR was rigged

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