A PYMNTS Company

EU: Pension fund giants explore options in LIBOR claims

By  |  August 19, 2013

The Financial Times reported that some of Europe’s largest investors are currently exploring options to pursue claims against those accused of manipulating interest rate benchmark the London interbank offered rate, known as LIBOR. Reports say the investors include two of the EU’s largest pension funds, PGGM and AP7, are among those seeking legal options against the accused, which includes Barclays, UBS and Royal Bank of Scotland.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Investors are reportedly optimistic about bringing claims against the banks accused in the scandal thanks to major fines issued from US and EU authorities, which have fined a collective $2.6 billion to the three banks listed above for the alleged manipulation. Additional banks remain under investigation.

    PGGM confirmed it was “studying the case” of the LIBOR scandal, and reports say AP7 also confirmed its lawyers are exploring whether legal action against the accused is a viable option.

    Full Content: BDLive

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.