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Q A: what is the Libor scandal and why does it matter?

  • Written by The Conversation
imageEPA/Andy Rain

Former Citigroup and UBS trader Tom Hayes has become the first person to be convicted for rigging global Libor interest rates. He has been found guilty of eight counts of conspiring to defraud and sentenced to 14 years in prison.

But what is Libor and what does this mean for the future of the banking industry? Pamela Yeow explains.

What...

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