Timeline of the Libor scandal

On Dec. 19 UBS, Switzerland's largest bank, agreed to settle charges in a probe that looked into whether banks had rigged the London interbank offered rate, the European equivalent of the prime rate. Libor serves as the basis for the interest rates that consumers around the world pay on many loans. UBS is the second bank to settle in the scandal. Here's a look at the events that have led up to the settlement.

SOURCE: Washington Post staff. GRAPHIC: Michelle Williams - The Washington Post. Published Dec. 19, 2012.