Libor Rate Manipulation
The London Inter-Bank Official Rate (“Libor”) is an average cost of unsecured borrowing calculated by banks on a daily basis. Libor is used worldwide to price a variety of financial products including loans, derivatives and mortgages.
What is Libor Manipulation?
In 2012, banking regulators commenced investigations into the manipulation of Libor by a number of major UK banks. These banks have been found to have been manipulating Libor from as early as 2003.
The manipulation of Libor upwards creates the potential for traders to make profit. By manipulating Libor downwards, the impression is given that banks are willing to lend money at a lower interest rate, presenting a false illusion of a stronger position.
Do you have a claim?
Have you entered into a financial product, such as a loan, based on, or linked to Libor? If so, you may have been subject to bank mis-selling or conspiracy and could be able to bring a claim to recover losses suffered as a result.
How we can help
Our experienced banking and finance lawyers have recovered in excess of £30 million for clients through claims for mis-selling of financial products, including claims for Libor Manipulation and Fraud.
Our lawyers have the knowledge and expertise to review your potential claim or query and advise on the most appropriate steps to take. We will always consider your individual circumstances to provide tailored advice and can offer flexible and affordable costs arrangements.