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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 ...
— -- 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: ...
NEW YORK--(BUSINESS WIRE)--Morgan Stanley (NYSE: MS) announced today that, except for the instruments identified below, the U.S. law-governed U.S. dollar LIBOR-linked preferred stock (and related ...
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" ...
It took more than a decade but Libor, the benchmark borrowing rate at the heart of a rigging scandal that blew up in the early 2010s, is now officially no more. A Libor rate was used for the last time ...
As regulators ramp up their global investigation into the manipulation of interest rates, the Justice Department has identified potential criminal wrongdoing by big banks and individuals at the center ...
LONDON, July 6 (Reuters) - Former star UBS and Citigroup (C.N), opens new tab trader Tom Hayes, the first person jailed over the Libor rate scandal, can return to the Court of Appeal in a fresh ...
NEW YORK--(BUSINESS WIRE)--MetLife, Inc. (NYSE: MET) is issuing this press release to advise that the three-month U.S. dollar LIBOR in the U.S. law-governed U.S. dollar LIBOR-linked preferred stock ...
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