this paper we use Benford second digit reference distribution to track the daily London Interbank Offered Rate (Libor) over … as well as in several financial data sets. We find that in two recent periods Libor rates depart significantly from the … from the sixteen banks from which the Libor is computed and the usefulness of the Libor as a major economic indicator. …

Using comprehensive data on London Interbank Offer Rate (Libor) submissions from 2001 through 2012, we document … systematic evidence consistent with banks manipulating Libor to profit from Libor related positions and, to a degree, to signal … eventually sanctioned by the regulators and disappears for all banks post-2010 in the aftermath of Libor investigations. Our …