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Libor scandal: FSA fines will make it harder for banks to lend to consumers

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Damian Reece, The Telegraph's Head of Business, says the scale of fines awarded to banks will have an impact on their ability to lend money to consumers.

 

UBS has swallowed a £940m fine after a global probe revealed its staff orchestrated the manipulation of benchmark interest rates. The extent of the wrongdoing was highlighted in a series of emails released by the Financial Services Authority (FSA), which showed how traders and brokers conspired to rig the rate and referred to each other in congratulatory terms. In this video, Telegraph Head of Business Damian Reece explains the impact that FSA fines will have on consumers.

 

Link: http://www.telegraph.co.uk/finance/personalfinance/borrowing/9755502/Libor-scandal-FSA-fines-will-make-it-harder-for-banks-to-lend-to-consumers.html


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