FCA pledges to pursue prosecutions against five or more banks accused of fixing Libor

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City watchdogs have pledged to pursue prosecutions against five or more banks accused of fixing Libor, as the probe into rigging of the key inter-bank lending benchmark intensified.

The Financial Conduct Authority (FCA) has a handful of active investigations into banks that tried to rig Libor, which governs £200trn of global contracts from complex securitisations to credit card loans,...

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