Bloomberg: RBS Instant Messages Show LIBOR Rates Skewed
Bloomberg reported that Royal Bank of Scotland trader Tan Chi Min told colleagues the firm was able to move global interest rates, citing court filings.
The article said transcripts of internal RBS instant messages were included in an affidavit filed by Tan, the bank’s former Singapore-based head of delta trading for Asia, who’s suing RBS for wrongful dismissal after being fired last year for allegedly trying to manipulate LIBOR.
Bloomberg reported an instant message from Tan with traders that read: “Nice LIBOR … Our six-month fixing moved the entire fixing, hahahah.”
To read the Bloomberg article click here.
Previously on monitordaily: FT: RBS in Settlement Talks on LIBOR Allegations, Published September 10, 2012