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 ...

In a decision with general importance to financial markets, Standard Chartered Plc v Guaranty Nominees Limited and others [2024] EWHC 2605 represents the first time that the English court has ruled on ...

The LIBOR money-market rates, widely used around the world as the benchmark for interest rates on mortgages, credit cards and billions of dollars worth of other financial transactions, will be cleaned ...

Standard Chartered issued preference shares to Guaranty to satisfy certain regulatory capital requirements. Guaranty was the sole registered shareholder as nominee for a depository which issued ...

Ex-UBS Group AG star trader, Tom Hayes, agreed to manipulate and rig Libor to dishonestly boost profits, prosecution lawyers said asking the UK’s top court to reject attempts to overturn his ...

LONDON (Reuters) - On June 30, British bank NatWest sent out an arcane-sounding press release - bus operator National Express had become the first company to take out a loan based on Sonia, a ...

Recent cases show that DOJ prosecutions of financial market misconduct, like FX and LIBOR manipulation, often face legal setbacks due to flawed evidence or instructions. These rulings question whether ...

The cost of three-month dollar loans slid to a new record low today after Bank of America Corp. said it had raised around $13.5 billion to shore up its capital position. Earlier this month, the U.S.

LONDON, April 17 (Reuters) - The interbank cost of borrowing dollars posted its biggest gain in eight months on Thursday, according to the British Bankers Association, which has accelerated a review ...