Sunday, November 25, 2012

Libor manipulation

  • Barclays Libor Manipulation Damages To Be Decided At Trial

    LONDON, Oct 29 (Reuters) - Barclays became the first bank to be ordered to stand trial in a British court over damages stemming from manipulation of the Libor interest rate after a High Court ruling on Monday. Guardian Care Homes, a residential care ...

    www.huffingtonpost.com

  • Libor Probe Wrangle

    The settlement ignited a political and public uproar, due to a combination of Barclays's track record of regulatory run-ins and the involvement of top bank executives in the attempted manipulation of Libor. Within days, Barclays's chairman, chief ...

    online.wsj.com

  • Gas prices: FSA examines whistleblower's claims of 'Libor-like' manipulation

    'Bang, bang, bang: six times people have tried to force the price down' - the suspicious trading behaviour that led to an FSA investigation Link to this video.

    www.guardian.co.uk

  • Libor Problems Go Global, Singapore Authorties Probe Citi Over Rigging

    The disclosure shows how far alleged Libor-manipulation implications could reach. The seriousness of the Libor probes peaked in June when Barclays agreed to a settlement of more than $450 million with U.S.

    www.forbes.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

  • A Triple Whammy for Barclays

    Four months after reaching a $453 million settlement with American and British regulators over manipulating the London interbank offered rate, or Libor, the Federal Energy Regulatory Commission is seeking a $435 million civil penalty over accusations ...

    dealbook.nytimes.com

  • Deutsche Bank chief criticised for skipping Libor hearing

    BERLIN (Reuters) - German politicians accused Deutsche Bank's co-CEO Anshu Jain of "chickening out" after the bank decided to send his chief compliance officer in his place to a parliamentary hearing on Libor manipulation next week. Politicians from ...

    au.news.yahoo.com

  • Barclays told to hand over 42 names in UK Libor case

    LONDON (Reuters) - Barclays has been told by a High Court judge to hand over documents, emails and other details of 42 staff involved in the setting of interest rates, as part of Britain's first lawsuit linked to alleged Libor manipulation. The British ...

    www.cnbc.com

  • N.Y. state widens Libor probe

    The Libor scandal became public in June, when regulators announced Barclays had agreed to pay $450 million for trying to manipulate the Libor for its own advantage. The Libor is supposed to be the average interest rate that large banks charge each ...

    www.upi.com

  • Bigger than Libor: Major Banks at Risk for Energy Manipulation

    FERC has thus far gone after JPMorgan Chase, Deutsche Bank, and Barclays for alleged manipulation of energy prices - and the stakes are potentially as high, at least in terms of the penalty amounts sought, as any numbers splashed across the front-page ...

    www.forbes.com

  • Libor Complaint Prompts Paris Prosecutors to Open Inquiry

    The July complaint, which didn't name a target, claims that lenders engaged in market manipulation related to Libor, among other allegations, Frederik Karel Canoy, the investor's lawyer, said today. "All the banks participated," Canoy, who ...

    www.businessweek.com

  • Judge orders Barclays to reveal names of Libor traders

    A High Court judge has ordered Barclays Bank to hand over 42 names to Guardian Care Homes as part of its disclosure in the first British damages claim over alleged Libor manipulation. After a two-day court hearing, Mr Justice Flaux said Barclays must ...

    www.ftadviser.com

  • Moody's warns on Libor downgrade risk to banks

    The unpredictable costs of legal action over banks' alleged manipulation of Libor, the London inter bank offered rate, could dwarf regulatory fines, which banks can absorb into their annual earnings, the report said.

    www.telegraph.co.uk

  • Special Report: How gaming Libor became business as usual

    In her letter to the U.S. Commodity Futures Trading Commission, she said tethering the futures contract to Libor "might provide an opportunity for manipulation" of the interest rate. A "bank might be tempted to adjust its bids and offers ... to benefit ...

    www.cnbc.com

  • RBS May Receive Separate Fines from UK, US Over Libor - Report

    The Royal Bank of Scotland Group PLC (RBS) could receive a "double hit" of separate fines from U.S. and U.K. regulators on separate days over its alleged role in the manipulation of Libor interbank rates, the Sunday Telegraph reports. The report quotes ...

    www.foxbusiness.com

  • UBS says under investigation in Singapore over possible rate manipulation

    "These investigations focus on whether there were improper attempts by UBS (among others), either acting on our own or together with others, to manipulate LIBOR and other benchmark rates at certain times," it said. The MAS ordered members of the ...

    www.reuters.com

  • Did UK energy companies pull a LIBOR?

    UK regulators are investigating claims that energy companies in Britain have rigged wholesale gas prices similar to the way banks manipulated the London interbank offered rate (LIBOR) to their own advantage. On Sept. 28, energy reporter Seth Freedman ...

    qz.com

  • RBS recovery continues says boss despite high cost of Libor and PPI

    CHIEF executive Stephen Hester today insisted Royal Bank of Scotland was continuing to recover despite quarterly headline losses and an imminent fine for the bank's role in the Libor-manipulation scandal. Unveiling a two-thirds rise in core third ...

    www.scotsman.com

  • Libor Scandal Update: The Real Cost

    Previous news reports have explored how alleged LIBOR manipulation could affect home, credit card, and car loans in the U.S.

    www.forexpros.com

  • Energy pricing: the market is manipulation

    The Guardian's investigation into the alleged "Libor-like" fixing of UK gas prices was doubly ironic for me. The first irony is that, as director of compliance and market supervision of the International Petroleum Exchange (now ICE Futures Europe) in ...

    www.guardian.co.uk

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