RBS Libor Rigging Fines May Come From Both UK And US Authorities
LONDON (Reuters) - Royal Bank of Scotland is facing the increasing likelihood of having to settle separately with the UK and U.S. authorities investigating its involvement in the global interest rate-setting scandal, the Sunday Telegraph said.www.huffingtonpost.com
RBS may face Libor fines after talks with regulator
Reuters. LONDON - Royal Bank of Scotland said it may face "material fines" in relation to how Libor and other interest rates were set after talks with regulators which it expects to begin soon.www.foxbusiness.com
Regulators to fortify bank capital after Libor, fines and fraud
LONDON (Reuters) - Banks will have to hold more capital after recent hefty fines, trading losses, money laundering and rate-rigging showed that operational risks are not being covered properly.www.reuters.com
Libor fines may frighten the banks, but there are plenty more skeletons in the ...
RBS chief Stephen Hester has gone as far as he can to prepare expectations that the bailed-out bank will be slapped with a big fine when watchdogs around the globe finally finish their investigations into the manipulation of interest rates. But Libor ...www.equities.com
Bank scandals can aid financial literacy
We should realize that the LIBOR scandal is just a small part of the bigger problem. The question really isn't whether banks are behaving badly.articles.marketwatch.com
Libor Arrests, FSA Conflicts Fine, Molycorp Probe: Compliance
U.K. prosecutors are poised to arrest former traders and rate setters at UBS AG (UBSN), Royal Bank of Scotland Group Plc and Barclays Plc (BARC) within a month for questioning over their role in the Libor scandal, a person with knowledge of the probe said.www.bloomberg.com
LIBOR homeowner lawsuit: Much ado over $1.22?
On the heels of a "robo-signing" settlement--which cost a group of banks $25 billion in fines--came the "LIBOR scandal," where Barclays bank was fined around $450 million for attempting to manipulate the LIBOR rate. And now comes yet another LIBOR ...community.nasdaq.com
UK Banks Should Hold Capital for Libor 'Aftershocks' - BoE's King
U.K. banks must hold some of their capital to cushion themselves against possible "Libor aftershocks" and other potential regulatory fines, Bank of England Governor Mervyn King told lawmakers Thursday. Speaking to the Parliamentary Banking Standards ...www.foxbusiness.com
Bank LIBOR update: Fines won't matter but litigation might
Any future regulatory fines against banks from their alleged manipulation of the London Inter Bank Offered Rate (LIBOR) would likely be absorbable within each bank's annual earnings and would therefore not be significant enough to prompt rating actions ...www.freshbusinessthinking.com
Gas price riggers should face stiff penalties, says prime minister
The Downing Street spokesman said the Treasury and energy department were looking at how price fixing occurs, after remarks by Martin Wheatley, the FSA chief, who investigated the price fixing of Libor, the interbank lending rate. In his report on ...www.guardian.co.uk
Price-Fixing Charges, UPS's TNT Bid, Libor: Compliance
Technicolor SA (TCH) is also among companies earmarked for possible European Commission fines as soon as Nov. 28, one of the people said.www.bloomberg.com
Banks approach ECB about alternatives to Libor
The discussions are intended to plot a way forward after manipulation of the London Interbank Offered Rate (Libor) led to fines of $450 million for Barclays, hardening resolve for a regulatory overhaul of the methods used to set the price of credit ...www.reuters.com
UPI NewsTrack Business
Indian mining company fined $1 billion ... Singapore probing Citigroup's Libor ... 6 (UPI) -- The Monetary Authority of Singapore is investigating Citigroup Inc.'s potential involvement with Libor manipulation, the bank said. Citigroup revealed the ...www.upi.com
BRIEF-RBS says expects to enter Libor settlement talks soon
LONDON Nov 2 (Reuters) - RBS : * Says expects to enter into negotiations to settle some libor investigations. in near term * Says believes probable outcome of libor settlements is that it will incur. financial penalties * Says timing of any libor ...www.reuters.com
PRESS DIGEST-Sunday British business - Nov 25
Royal Bank of Scotland is concerned it could receive separate fines for its alleged involvement in the Libor-fixing controversy, one from the UK's Financial Services Authority and one from the U.S.www.reuters.com
Barclays told to hand over 42 names in UK Libor case
Barclays, which was fined $450 million in June by U.S. and UK authorities after admitting to rigging Libor interbank lending rates, will also have to submit minutes of board meetings, audio files and seating plans.www.cnbc.com
Barclays Saudi Investigation Adds to Jenkins's Regulatory Woes
For Jenkins, who replaced Robert Diamond after the lender paid a record fine for manipulating Libor, the probes are likely to be a bigger setback to his efforts to show politicians the bank can put regulatory missteps behind it than the size of any ...www.bloomberg.com
Adoboli affair rocks London's scandal-hit financial hub
Meanwhile in June, the Libor (London Interbank Offered Rate) affair erupted when Barclays was fined £290 million by British and US regulators for attempted manipulation of interbank rates between 2005 and 2009.www.google.com
Libor's Double Whammy for European Banks
Email Print Minus Text Size Plus. European banks at the center of the ongoing Libor regulatory investigations may have to take a hit in their accounts before American banks do, because of differences in the way accounting standards deal with potential ...www3.cfo.com
Bankers' Body Urged To Merge After Libor Loss
The UK bank paid £290m in fines for attempting to manipulate Libor rates before and during the 2008 financial crisis, and heavy penalties for other banks are expected to follow from regulators around the world before the end of the year. The Government ...news.sky.com
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