On Friday, in a victory for the world’s largest banks, a U.S. district judge dismissed a large number of claims accusing the banks of rigging Libor. Sixteen banks, including Bank of America, Citigroup, Credit Suisse, Deutsche Bank, HSBC and JPMorgan … Read More…
Under rules established by the U.K.’s Financial Services Authority, British banks’ participation in Libor submissions will remain voluntary as the financial watchdog seeks to restore credibility to the benchmark after last year’s rate-rigging scandal. The European Union is considering a … Read More…
Freddie Mac, one of America’s government-controlled mortgage giants, recently filed suit against 15 of the largest global banks over losses resulting from the Libor-rigging scandal. In a March 14 court filing made public on Tuesday, Freddie Mac filed suit against … Read More…
A group of central bankers from across the world said on Monday that the Libor interest rate should be replaced with a number of reference rates derived from actual transactions between banks. The rate, which is used to price trillions … Read More…
An European Union antitrust official said on Thursday that investigations into illegal rate-rigging are in advanced stages, dispelling previous statements that the probes could take some time. The European Commission has been investigating rate-rigging scandals related to the Japanese yen … Read More…
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