New York Fed became aware of banks manipulating key rate in 2007, document showsQuicklink submitted by Sheila Samples Permalink
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|The Federal Reserve Bank of New York released documents Friday that show it learned five years ago of big banks understating their borrowing costs to manipulate a key interest rate. The documents also show Treasury Secretary Timothy Geithner, who was then president of the New York Fed, urged the Bank of England to make the rate-setting process more transparent.|
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