It was standard industry practice, according to the CCRC application for Mr Hayes, to select a rate within that accurate range best suited to the bank’s commercial interests – based, for example, on the trades it had done. That was, according to him and the other defendants in rate-rigging trials, in line with a fiduciary duty they had as part of their jobs to do all they could to maximise revenues and minimise losses for their banks.
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It comes as government borrowing rose in September, according to the Office for National Statistics.
If serious non-compliance were to be found, the BBB added, it was entitled to take remedial action, including the...
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Everything, Mr Abbott admits, feels like a gamble at the moment. Unless rates start to fall soon, they will...
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