Question: on LIBOR fixing. Answer the following questions: (a) What is the LIBOR and how was it traditionally fixed? (b) What do you understand by rate

on LIBOR fixing. Answer the following questions:

(a) What is the LIBOR and how was it traditionally fixed?

(b) What do you understand by ‘rate rigging’?

(c) What are the two main motivations for banks to misreport LIBOR rates?

(d) What reforms have been introduced in the UK as a result of this scandal?

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