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The bank was fined for attempting to fix interest rates, known as the London interbank offered rate (Libor) and the European equivalent, Euribor.
Making an example of the offers of champagne and curries to fix interest rates should have been enough of an explanation: after all, the offers themselves could hardly have been expressed in plainer language.
Its high priest has been none other than Gordon Brown who, in his first act as chancellor, proudly "set free" the Bank of England to fix interest rates, and has since driven and promoted precisely the kind of financial deregulation that has led to the collapse of the world's financial markets.
Similar(56)
"Retail bonds are offering around 6 per cent – they look similar to accounts, offering fixed interest, over a fixed term, as long as the company doesn't go bust," Ms Bowes says.
The 6.8 percent fixed interest rate on the unsubsidized Stafford loan and the 7.9 percent fixed interest rate on the PLUS loan are roughly equal to the average interest rates over the history of the loan program.
After a long ordeal, the couple refinanced both loans at a lower, fixed interest rate.
St. Modwen's bonds mature in 2019 and pay a fixed interest rate of 6.25 percent a year.
This market allows people to "swap" fixed interest payments for floating ones.
The overriding message here is this: fixed interest isn't dead.
As interest rates fell, they refinanced both mortgages, locking in a 5.25percentt fixed interest rate for 30 years.
Their debts mainly mortgages on homes, offices or factories have fixed terms; they often have fixed interest rates too.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com