Tags » London Interbank Offered Rate

What is Libor Scandal and how it affects India

A few weeks after Deustche Bank was slapped with a $2.5 billion fine for its involvement in the Libor scandal, its co-CEO Anshu Jain stepped down. 739 more words

Business

Banks are finding it's not easy to fire traders accused of rigging financial markets

Giving the boot to traders charged with rigging key benchmark rates is harder than you might think. Case in point: Deutsche Bank, which was ordered by a German appeals court back in April to return  346 more words

World's biggest banks accused of rigging rates

The Federal Deposit Insurance Corp. has sued the British Bankers Association and 16 of the world’s largest banks for rigging the LIBOR (London Interbank Offered Rate), the rate at which banks supposedly lend each other money. 76 more words

Wall Street

European banks feel persecuted by American regulators. Should they? | The Economist

THE charges were bound to generate big headlines for a little-known regulator. Barclays, a British bank already tainted by its role in fixing LIBOR, a vital interest rate, was accused on July 17th of manipulating electricity prices in California and other states, and slapped with a $453m fine by America’s Federal Energy Regulatory Commission (FERC). 91 more words

News Reader

SFO Arrests Individuals in LIBOR Scandal

by Giles Cadman

Until now the LIBOR scandal has concentrated on companies who were manipulating the LIBOR rate. The Serious Fraud Office has arrested three brokers who participated in the rigging of the LIBOR rate, indicating that individuals, not just companies, are to be… 240 more words

Fine Wine

The Resolution Law Group: Sonoma County Files Securities Lawsuit Over Libor Banking Debacle

Sonoma County, CA is suing Citigroup (C), JPMorgan (JPM), Bank of America (BAC), UBS (UBS), Barclays (BCS), and a number of other former and current LIBOR members over the infamous international-rate fixing scandal that it claims caused it to suffer substantial financial losses. 471 more words

The Resolution Law Group

How the world's most important financial benchmark makes money

The British Bankers’ Association (BBA) voted unanimously to sell Libor—the London Interbank Offered Rate—to NYSE Euronext, the US-based stock exchange company. Libor, calculated based on rates at which the world’s largest financial institutions say they can lend to each other on a daily basis, is the world’s most important financial benchmark; it’s what helps determine interest rates on everything from home loans and credit cards to complex derivatives transactions. 623 more words