UK Bank customers in line for a £33bn windfall possibly. Bigger than PPI payouts.

Nasqueron

djej55 wrote: »

What about Linor rate fiixing- thta affected my LloydsTSB mortgage in Spain ....do I get compensation

Libor rate fixing was in terms of tiny fractions of a % and as above, went up and down depending on markets, any loss (or even profit for that matter) is so marginal you would be talking pennies

addedvaluebob

Its the nicking of all those pennies that make the banks and traders millions in profits. The banks manipulated and fiddled the markets to the detriment of consumers. If you steal 30p off one person or 0.3p off 100 nobody is interested but this money is rolled into the eventual company profit and loss.

Nothing was ever manipulated for the benefit of customers and any claim is not worth pursuing but that is the whole point

Nasqueron

addedvaluebob wrote: »

Its the nicking of all those pennies that make the banks and traders millions in profits. The banks manipulated and fiddled the markets to the detriment of consumers. If you steal 30p off one person or 0.3p off 100 nobody is interested but this money is rolled into the eventual company profit and loss.

Nothing was ever manipulated for the benefit of customers and any claim is not worth pursuing but that is the whole point

That is mixing up 2 different things though - criminal / immoral behaviour in relation to manipulation can and should result in prosecution; however, losing or gaining pennies* does not mean people should expect billions of payouts

*If interest rates are manipulated down of course it benefits customers to a tiny degree as their payments would be fractionally lower