Skip to main content
Home

Main navigation

  • Top stories
  • Health
  • Crime
  • Politics
  • Business
  • Tech
  • Culture
  • Sports
  • Weird
  • 1-1-2
Business
banking
banks
finance
Rabobank
Wednesday, 30 October 2013 - 09:16
Share this:
  • facebook
  • twitter
  • linkedin
  • whatsapp
  • reddit

Rabobank to Pay €774M in Libor Interest Rate Fraud

Rabobank will pay about €774 million fine for involving in in the Libor interest rate fraud. The bank has entered into settlement agreements with various authorities in connection with their investigations into the bank’s Libor and Euribor submission processes, according to a statement. Piet Moerland has resigned as chairman of Rabobank’s executive board, effective immediately. Rabobank / Flickr “The public has to be able to trust that Rabobank employees operate with our core values in mind. That is why I have today decided that, as a matter of principle, it is appropriate for me to resign as chairman of the executive board with immediate effect,” Moerland stated. Rabobank also said it has launched a comprehensive package of measures to enhance compliance, reduce risk and improve culture. The bank took strong disciplinary action. There were 30 employees involved in inappropriate conduct. However, the bank noted that top management was neither involved nor aware of inappropriate conduct. In addition, Rabobank said will remain financially stable despite the payment of these significant settlement amounts.

Follow us:

Latest stories

  • Volt allowed to expel MP Gündoğan over harassment accusations, appeals court rules
  • Night train to Berlin launching in May from €49 per person; A'dam-Barcelona set for 2025
  • Ethnically diverse girls less active, feel unsafe playing sports with men watching
  • Six Dutch missing in Turkey after earthquakes; Death toll climbs above 5,000
  • Entrepreneurs worried that higher minimum wage will bankrupt businesses
  • Care farm ordered closed for physically, mentally abusing people with disabilities

Top stories

  • Care farm ordered closed for physically, mentally abusing people with disabilities
  • Vattenfall to lower energy prices to below price cap for 700,000 customers in April
  • Dutch rescue team arrives in Turkey; Nearly €1.2 million raised for earthquake victims
  • Netherlands to send a search & rescue team to Turkey after 7.8 magnitude earthquake
  • Dutch employers becoming less critical during hiring process
  • Multiple writers receive threats after defending Pim Lammers, "Unacceptable": Dutch PM

© 2012-2023, NL Times, All rights reserved.

Footer menu

  • Privacy
  • Contact
  • Partner content