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The Informational Role of Bank Loan Ratings: barclays libor manipulation - Research Paper Example

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The Informational Role of Bank Loan Ratings: barclays libor manipulation

I also thank my cliques and friend for their support moreover my supervisor. TABLE OF CONTENTS Declaration 2 Dedication 3 Acknowledgement 4 Table of content 5 1.0. Abstract .6 2.0. Introduction 7,8 3.0. Literature Review 9,10,11,12,13 4.0. Methodology 14,15,16,17 5.0. Results 17 6.0. Discussion (including conclusions and recommendations 18, 19, 20 7.0. List of references 21, 22, 23 8.0. Appendices 1.0 ABSTRACT From 2005 to 2008, some banks are accused of Libor manipulation by submitting lower borrowing cost rates than the standard Libor quotes set by The British Bankers Association (BBA) during the financial crisis, however, UK and US Authority's action was absent at that time. On July 7, 2012, The Economist printed an article that, Barclays became under the spotlight for attempting Libor manipulation and has been fined around $450 million by UK & US regulators. In this paper, the major highlights and study will include the following: 1) Definition and comparison between Libor and Eibor rates. 2) When did Barclays join the 12 financial institutions that set Eibor rates? 3) How Barclays attempted Libor Manipulation Scandal. 4) What hypothesis and models can be developed to test Libor and Eibor rates 5) what results were found after measuring Libor and Eibor rates? 6) How such attempt can impact on prices and other financial institutions. 7) What are the solutions or alternatives to solve this problem and how others assumptions can help in reducing such financial fraud towards economy. 8) What are some recommendations, observations and comments of other researchers, economists, analysts and politicians? Finally, we present a paper that has remedied that can solve the problematic question at hand. This study presents an analysis that addresses the possibility of Libor manipulation and collusion by Barclays bank. 2.0 Introduction Libor is an acronym of the word London Interbank offered rate. This is the rate at which, a bank can borrow funds from other banks, in the interbank market. The Britsh Bankers Association controls the rate at which the bank can borrow daily. The loan is derived from credit worthy banks deposit whose maturity ranges from two weeks to one year. On the other hand, Eibor means Emirates Interbank offered rate. This is charges placed by banks in the United Arabs Emirates on interbank transactions. This is the rate, which the bank places on all transactions with borrowed money in the reserve. The main function of this financial tool is, to regulate the interest and the rate of money supplied into their respective economy. Today, Libor's primary function is to provide a point of reference for unsecured loans between London based banks. Barclays bank in Britain has in the recent tried to manipulate Libor for it to gain more during the financial crisis. This has been possible because Barclays bank is among the 16 banks that are selected to provide a daily quotation for calculation of Libor. The Libor is supposed to measure the rate at which large banks can borrow unsecured funds from other banks at various short-term maturities, and for a variety of currencies. On a daily basis, the 16participating banks are surveyed by the British Bankers Associa ...Show more


BARCLAYS LIBOR MANIPULATION Nabila Obaid Al Shehhi PROFESSOR'S NAME: Timothy Strother. (Institution Affiliation) (Course) (Date) Dedication I dedicate this work to my family who offered the moral support, my supervisor who guided me in my research. Above all, I want to thank the almighty God for giving me all the strength I needed and keeping me health…
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The Informational Role of Bank Loan Ratings: barclays libor manipulation
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