Bank Of England Cracks Down On Cheating Banks

The Bank of England (BoE) is cracking down on large financial institutions to prevent them from cheating businesses and consumers worldwide, a practice that has put the $360 trillion global financial market at serious risk for several years. The push for regulatory reforms aims at divorcing investment banking from retail banking and fixing Libor rates on the basis of actual transactions rather than rates estimated by banks to determine how much it would cost them to borrow from each other in...

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