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 ...

On Thursday, the risk-free rate working group at the Bank of England published its priorities for the transition away from Libor to Sterling’s risk-free replacement interest rate, Sonia. Making a firm ...

The Federal Reserve has issued guidance to assist examiners in assessing supervised firms’ progress in preparing for the London Interbank Offered Rate (LIBOR) transition. The interagency statement ...

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--(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 ...

LONDON--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, today announced that ICE Benchmark Administration Limited (IBA), the authorized ...

— -- 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: ...

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 ...

LONDON--(BUSINESS WIRE)-- Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, today announced that ICE Benchmark Administration Limited (IBA), the authorized ...