British bank body was warned of distorted Libor as early as 2005, court told

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British bank body was warned of distorted Libor as early as 2005, court told
LONDON, June 8 (Reuters) - The British trade organisation in charge of benchmark interest rates was warned as far back as 2005 that some banks were deliberately distorting their Libor rates for profit, according to evidence given on Monday at the trial of a former trader accused of rate rigging.http://i2.wp.com/reuters.us.feedsportal.com/c/35217/f/654213/s/470ca9dc/sc/24/mf.gif?resize=1%2C1
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