Question a) In the article The Libor Scandal A Need for Revised National and International Reforms , Girasa and Kraus (2014), the following financial institutions were found to be involved in the scandal Barclays Bank UBS (formerly Union Bank of Switzerland) Royal Bank of Scotland (RBS) Rabobank (Cooperatieve Centrale Raiffeisen Boerenleenbank B A) Explain how these were involved and how they were penalised b) What alternative methods for determining LIBOR were suggested and have any of these been implemented since

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Question: Question a) In the article The Libor Scandal: A Need for Revised National and International Reforms, Girasa and Kraus (2014), the following financial institutions were

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a) In the article "The Libor Scandal: A Need for Revised National and International Reforms", Girasa and Kraus (2014), the following financial institutions were found to be involved in the scandal:

Barclays Bank:
UBS (formerly Union Bank of Switzerland):
Royal Bank of Scotland (RBS):
Rabobank (Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A).:

Explain how these were involved and how they were penalised.

b) What alternative methods for determining LIBOR were suggested and have any of these been implemented since?

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