The LIBOR scandal: Answer the following questions by reading the following case: Barclays and the LIBOR Scandal.

8.1) How is the LIBOR rate determined?

8.2) When did the concern about LIBOR manipulation first surface?

8.3) Which two things had Barclay done wrong? Why did Barclay do these?

8.4) At Barclay, which department was responsible for submitting LIBOR rate to Thomson?

8.5) Who is Paul Tucker?

8.6) Why the provision that the rates each bank submitted daily should not be published immediately, but should be embargoed for 3 months is adopted?