Regulators around the world suspect the same thing, as the amended complaints point out. No fewer than nine enforcement and criminal agencies are investigating alleged LIBOR manipulation, including ...
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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 ...
When the LIBOR interest-rate fixing scandal broke wide open over the summer, I asked whether it was “The Crime of the Century.” The answer to that question relied on whether banks were understating ...
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 ...
Tom Hayes, the former trader who became the face of the Libor scandal, sued UBS on Monday for $400 million in damages, alleging his former employer made him out to be the “evil mastermind” behind the ...
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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