What went wrong with LIBOR, EURIBOR, etc Assignment

What went wrong with LIBOR, EURIBOR, etc - Assignment ExampleA flock of cases involving misconduct among employees were reported. It is reported that Barclay derivative dealers made several requests to fix the currency rates. The Barclays traders would regularly call the Libor and Euribor traders petition for a specific rate.The liquidity concerns became high in the public domain. Part of this was contributed by the instant let out of Northern Rock. Investigations were yet underway, but it was almost obvious that Barclays had played a role. At one point, higher-ranking treasury managers had to intervene to reduce publicity against Libor. It was later discovered that Libor submissions was being set unrealistically low.It was revealed by Barclays agent that they were underreporting as a means of trying to reduce the level of stigma against Libor. From these realizations, the judicial proceeding process began in the bid to unveil what was behind this. The matter was undertaken by of ficials from New York Federal declare Bank. The case proceeded up to 2012 when Barclays submitted to misconduct and the bank was fined about $60