— -- 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: ...
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 ...
Is the increased gap between Libor and overnight rates a Machiavellian scheme, where liquid banks are forcing up Libor to earn extra cash on products that are indexed against this measure of money ...
Britain's NatWest Group has kicked off a campaign encouraging customers to dump the discredited Libor lending rate, as the coronavirus pandemic slows the pace at which borrowers are shifting to ...
LONDON (Reuters) - Standard Chartered won its bid in a London court on Tuesday to replace the financial benchmark it used to set dividend rates for some shares, which the bank said provided "clarity" ...
June 10 (Reuters) - UK-based bond broker ICAP said it will launch on Wednesday an alternative measure to the London interbank offered rate of borrowing costs for banks with offices in the United ...
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Here’s how the Secured Overnight Financing Rate works and why it might matter for your mortgage
Remember Libor? For decades, the London interbank offered rate was the benchmark for pricing a wide variety of loans, ...
Tom Hayes, the first trader ever jailed for interest rate rigging, had his conviction overturned by Britain’s top court Wednesday after a years-long fight to clear his name. The UK Supreme Court ...
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