LIBOR rigging
[ˈlaɪbɔːr ˈrɪɡɪŋ]
noun
manipulação da LIBOR
1. The illegal practice of deliberately manipulating the London Interbank Offered Rate (LIBOR) by banks to profit from trades or to appear financially healthier than they actually were
The LIBOR rigging scandal of 2012 resulted in massive fines for several major international banks.
O escândalo de manipulação da LIBOR em 2012 resultou em multas massivas para vários grandes bancos internacionais.
2. Coordinated falsification of interest rate submissions used to calculate LIBOR, affecting trillions of dollars in financial products
Regulators discovered that LIBOR rigging had been occurring for years across multiple financial institutions.
Os reguladores descobriram que a manipulação da LIBOR havia ocorrido durante anos em várias instituições financeiras.
The LIBOR rigging scandal (2012) had significant international impact, affecting Brazil's financial sector as LIBOR is used globally. In Brazil, this scandal reinforced discussions about strengthening financial regulation and market oversight. The case demonstrated the necessity of regulatory bodies like the Central Bank of Brazil (Banco Central do Brasil) implementing stricter controls on international benchmark rates used in Brazilian financial markets.
Related Idioms & Phrases
cooking the books (similar fraudulent accounting practice)
caught with hand in the cookie jar (caught committing LIBOR rigging)
Look up more words on Fala2Me
The free English-Portuguese dictionary with real Brazilian accents, NYC slang, conjugator and more
Open Fala2Me →