Wednesday, May 12

‘They wanted to jail a banker – I was that banker’


It was standard industry practice, according to the CCRC application for Mr Hayes, to select a rate within that accurate range best suited to the bank’s commercial interests – based, for example, on the trades it had done. That was, according to him and the other defendants in rate-rigging trials, in line with a fiduciary duty they had as part of their jobs to do all they could to maximise revenues and minimise losses for their banks.



Source link

54 Comments

Leave a Reply

Your email address will not be published.