Managers at state-owned lender Royal Bank of Scotland condoned and participated in the manipulation of global interest rates, indicating that wrongdoing extended beyond the four traders the bank has fired, Bloomberg reports.
In an instant-message conversation cited by the news agency, and dating back to late 2007, Jezri Mohideen, then the bank's head of yen products in Singapore, instructed colleagues in the UK to lower RBS's submission to the London interbank offered rate that day, according to two people with knowledge of the discussion.
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