NY Fed Asked Barclays For Info On Libor In 2008

Law360, New York (July 10, 2012, 1:28 PM EDT) -- The Federal Reserve Bank of New York said Tuesday it asked Barclays PLC in 2008 for information about its submissions to bankers who set the crucial London Interbank Offered Rate, two weeks after the bank settled allegations that it manipulated the rate.

The New York Fed said in a statement that while monitoring markets after the financial crisis began in late 2007, it received “anecdotal reports from Barclays of problems with Libor.”

“In the spring of 2008, following the failure of Bear Stearns and shortly before...
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