UK rate scandal: ‘SA banks sound’
The Libor scandal now involves as many as 12 leading banks, including Absaâ€™s parent bank, Barclays, which has already been heavily fined.
Sharp focus is now being placed on the Johannesburg Interbank Agreed Rate â€“ or Jibar.
The Jibar, or money market rate, is used to price financial transactions across our domestic economy.
According to a Morgan Stanley research report released….”