Libor fines for Lloyds include penalty for SLS underpayment
Lloyds Banking Group's £226 million rate-manipulation bill includes £78 million for rigging the repayment rate for the government Special Liquidity Scheme brought in to save the bank from collapse
Lloyds Banking Group rigged the sterling repo rate in order to reduce its fees for use of the UK government's Special Liquidity Scheme (SLS), according to regulatory documents released today.
In statements accompanying the news of fines and penalties totalling £226 million for manipulating benchmark rates, the UK Financial Conduct Authority and the Bank of England said that Lloyds Bank and Bank of
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