News | August 23, 2017

PhD student Timo Klein and fellow researchers cracked Libor and Euribor scandals as cartels

In a new working paper, PhD student Timo Klein (University of Amsterdam), Nuria Boot (DIW Berlin), and Maarten Pieter Schinkel (University of Amsterdam) have cracked the manipulation scandals surrounding the Libor and Euribor interest rates as potential cases of collusion.

Against the prevailing view that this would be impossible, they show that entire subsets of the major commercial banks could have been involved in these unlawful cartels. The researchers conclude that the benchmark interest rates remain vulnerable to cartel mechanisms, even after the implementation of recent and proposed reforms.

Publication details

Boot, Nuria, Klein, Timo en Schinkel, Maarten Pieter, ‘Collusive Benchmark Rates Fixing’, Amsterdam Center for Law & Economics Working Paper No. 2017-02, June 27, 2017.