WASHINGTON (MarketWatch) — An unidentified employee of U.K. bank Barclays PLC told the New York Federal Reserve Bank more than four years ago that the bank was filing false reports on a key interest rate , according to documents released by the regional bank on Friday.
The documents show that a summary of this admission was quickly circulated throughout the U.S. government, including the Federal Reserve and the Treasury Department, in 2008. The London rate for interbank lending, known as Libor, is now at the center of a sweeping industry-wide, cross-border investigation into the setting of interbank-lending rates....
