The term Libor has been thrown around plenty over the last couple of weeks thanks to yet another scandal ripping through the banking industry. Consider that the 2008 financial crisis, a crisis that ...

For half a century the series of interest rates known collectively as the London interbank offered rate, or Libor, has helped determine the cost of all sorts of borrowing around the world. But over ...

On April 6, 2021, New York Governor Cuomo signed into law legislation aimed to provide legal certainty and curb litigation as LIBOR is discontinued in favor of another fallback benchmark rate.[1] ...

The worst case scenario around findings in the global Libor investigation may become a reality for banks. Today UBS became the second bank to settle Libor manipulation charges agreeing to pay $1.5 ...

Now is the time to transition away from the London interbank offered rate, the decades-old benchmark used to calculate the rate of interest charged on more than half of adjustable-rate U.S. home ...

WASHINGTON — Breaking up is hard to do. Breaking up with an interest rate that is baked into millions of contracts worth trillions of dollars is even harder, but 2022 was the year the financial system ...

Two summers ago, the head of Britain’s Financial Conduct Authority, Andrew Bailey, made news when he announced that LIBOR – the leading benchmark for setting global interest rates – had a ...

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 ...

This week’s Bloomberg Businessweek cover story is about Tom Hayes, a British trader convicted of manipulating Libor. The London Interbank Offered Rate is a global benchmark for the cost of borrowing.

Homestretch to December 31, 2021, and the end of LIBOR? Not so fast. All the relevant regulators and other authorities clearly indicated for some time that USD LIBOR would no longer be available after ...

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. There are many reasons why attempts to ditch dollar Libor are proving difficult. One of them is that there are ...

Many of us were introduced to the term LIBOR for the first time this week, when it was revealed that some banks might have been manipulating the dull but vital interest rates to gain an edge in the ...