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| Type | Bachelor's Thesis |
| Scope | Discipline-based scholarship |
| Title | Libor – the benchmark rate and its manipulation |
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| Institution | University of Zurich |
| Faculty | Faculty of Economics, Business Administration and Information Technology |
| Number of Pages | 51 |
| Date | 2016 |
| Abstract Text | Libor is a widely used survey-based reference that measures banks unsecured borrowing cost in the London interbank market. It also serves as a benchmark for a wide range of financial products with a gigantic notional value. The recent manipulation scandal, together with the dropping relevance of the unsecured funding interbank market, has raised several questions for its future role and reforms. This study discusses the sources that enabled manipulations, outcomes of recent investigations along with the prosecution and ongoing reforms to make Libor robust and appropriately used in future. In the empirical section, Euro Libor is matched and compared to its European cousin Euribor. The aim is to find differences and conspicuous patterns between the two benchmarks but also across the panel banks who submit for both reference rates. |
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