Bleak day for British banking as Libor arrests follow record fine for HSBC

HSBC hit with £1.2bn fine by US regulators, while SFO arrest three in connection with investigation into interest rate rigging The reputation of Britain's banking industry took a fresh battering when HSBC was slapped with a record £1.2bn fine by US regulators for money laundering and sanctions busting, the first arrests were made in the Libor-rigging investigation, and nationalised Northern Rock