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It might be a case of fixing the rate of exchange or even agreeing to invoicing in GBP, but it's a major factor.
In April, Deutsche Bank paid $2.5bn £1.71bnn), a record amount, to settle regulatory investigations into its involvement in fixing the rate.
It emerged that the bankers were only sometimes fixing the rate for personal gain; in late 2008, they were putting in low submissions in order that the bank should appear healthy and be able to recapitalise itself.
The scandal over fixing the rate used as a reference for financial transactions worth more than $350 trillion globally has led to a fine for Britain's Barclays and prompted an antitrust investigation by the European Commission as well as a pledge to criminalise the fixing of such indexes.
Barclays Bank of England is at the center of the scandal and it hasn't been made too apparent by the press that nearly every major bank, such as Bank of America, Citigroup, UBS and JPMorgan Chase, were allegedly involved in fixing the rate as well.
Fixing the rate of each leak channel to 25 ions per second per PMCA and 48 ions per second per NCX resulted in a basal dendritic calcium concentration ([Ca2+]i) of 50 nM [5], [55], [56], [57].
Similar(51)
Qantas sought to eliminate competition by fixing the rates for shipments of cargo to and from the United States and elsewhere from at least January 2000 through February 2006, according to the charges filed in the United States District Court for the District of Columbia.
He was indicted in May 2001 by a federal jury in Manhattan on a criminal charge of fixing the rates that Sotheby's charged to sellers at auction.
On the other hand, they claimed that government should fix the rate of interest.
Many countries fix the rate of interest to be applied in such cases.
But - as at Barclays and UBS - it's clear that some traders conspired to fix the rate by changing the rate that they submitted to the Libor panel.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com