Bankers Quite Worried For Reviews After Rate-fixing

Finance David Cameron, the prime minister of the country has given orders that two very urgent review have to be conducted as far as the conduct of the banks are concerned.. all this has happened after Barclay’s one of the biggest banks of the country got into the scandal of interest rate-fixing. A starting inquiry into the setting of Libor, that is the standard rate which us used by the banks in order to lend money to each another, is going to be reported within weeks as well as their might be a pushing for criminal sanctions as well against any of the banks who is found to be manipulative as far as the interest rates in the future are concerned. The second review that is going to take place is going to look into the matter of professional standards as well as the qualifications of the bankers, that in the present times is clearly overseen by the Financial Services Authority that is FSA. This is what the City watchdog has to say. Major calls are now being considered seriously at the Downing Street, which are related to a proper public inquiry as far as the working manner and the conduct of the banks of Britain is concerned. Same is the style of the probe by Lord Leveson that is going on at present as far as the standards of media is concerned. Nevertheless, the figures that were put up by the City have also issued a warning that a ‘witch-hunt’ would be conducted now against all the banks that may become a cause for a jerk in the knees of the regulations which are actually harming the banking industry that has to play a very important role in the recovery of the economy of the country. The launching of the two review came in just after few days when the FSA had charged Barclays with a fine of 290 million pounds pertaining to the the role that the bank had to play in Libor-fixing scandal. Apart from Barclays, there are many other big banks who are under fire because of the same issue namely, Citigroup, UBS, Royal Bank of Scotland as well as JPMorgan Chase. Apply now with loans 12 month @ ..loans12month…uk and a get easy loan. The Government is making plans to do swift review that is going to give a permission so that an introduction of criminal charges can be put but this Financial Services Bill, is at present in the Parliament. About the Author: 相关的主题文章: