Companies that haven’t switched away from the scandal-plagued London interbank offered rate ahead of the June 30 deadline for the benchmark’s demise aren’t likely to disrupt credit markets, but they ...
The Federal Reserve Bank of New York said Friday that it received reports of problems with the setting of the London Interbank Offered Rate (Libor) back in 2007, before the issue first came to public ...
LONDON/NEW YORK (Reuters) - Barclays alerted U.S. regulators as far back as 2007 to concerns that banks were rigging benchmark interest rates, according to documents released on Friday, but ...
Quick Take: The staff of the SEC’s Division of Examinations (Staff) recently issued a risk alert (Alert) addressing the status of preparations by investment advisers and investment companies (firms) ...
According to the swap review by ISDA covering the week ending on Dec 9th, 62% of the swap trading activity in the US referenced SOFR as a benchmark. The dominance of SOFR seems to finally be ...
— -- A new scandal in the banking industry is undermining its image, already tarnished by rogue trading at JPMorganChase and the 2008 subprime mortgage collapse. At the heart of the scandal: ...
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What was the LIBOR rate, and what happened to it?
LIBOR set interest rates for trillions of dollars in loans for over 30 years. Banks manipulated the rate because it relied on estimates rather than real transactions. A new system called SOFR replaced ...
LONDON--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, today notes the final announcement from the U.K. Financial Conduct Authority (FCA ...
The U.S. Department of Housing and Urban Development (HUD) recently issued a final rule replacing the London Interbank Offered Rate (LIBOR) with the Secured Overnight Financing Rate (SOFR) for newly ...
The UK’s Financial Conduct Authority (FCA) today issued a reminder of the expected cessation of the remaining synthetic US dollar LIBOR settings in late September 2024. With three months to go until ...
LONDON/VIENNA/NEW YORK, May 16 (Reuters) - Bankers on both sides of the Atlantic are addressing problems with Libor, the leading global benchmark rate for inter-bank borrowing, while one brokerage is ...
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