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Libor Scandal: Seven banks summoned for questioning

Seven banks, including HSBC and Citigroup, have been summoned to be questioned in the US for the alleged manipulation of the Libor inter-bank lending rate. The other banks summoned by the New York attorney general are Barclays, UBS, JP Morgan,

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15 major banks downgraded by Moody’s

Credit ratings agency Moody’s has downgraded 15 global banks and financial institutions. Moody’s based their decision on the bank’s exposure to volatility in the world’s financial markets and risk of outsized losses. According to John Raymond the senior banking analyst

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