Liberating Coverage for Libor-Related Lawsuits and Investigations

Financial Services Alert

PUBLISHED ON: July 26, 2012

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On June 27, Barclays Plc agreed to pay $448 million in fines to U.K. regulators over allegations that it improperly manipulated Libor and Euribor, the London interbank offered interest rate and Euro interbank interest rate applicable to loans made between banks and large corporations. Recent reports indicate that Barclays and other Libor banks are the subject of government civil and criminal investigations in the U.S.