Sunday, November 25, 2012

Libor rigging

  • RBS Libor Rigging Fines May Come From Both UK And US Authorities

    Libor and other past mistakes are threatening to overshadow Hester's attempts to turn the bank around and get it into a shape that will make it possible for the government to start selling down the 81 percent stake which it acquired in rescuing the ...

  • Libor-Rigging Banks Leave London Customers Disillusioned

    If Guardian gets its way and a judge rules its swap was invalidated by Libor rigging, it could have ramifications for $300 trillion worth of contracts worldwide.

  • Royal Bank of Scotland set for talks to settle Libor-rigging claims

    Royal Bank of Scotland is preparing to enter talks with regulators to settle Libor-rigging claims, its chief executive said on Friday, as the bailed-out bank prepares to face a major fine for the attempted manipulation of the key interest rate.

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

    Today the nation's third largest bank said the Monetary Authority of Singapore requested from it information and documents related to an investigation about possible Libor-rigging. In its most recent 10-Q filing with the SEC Citi says, " In connection ...

  • Libor Probe Wrangle

    The FSA, one of the agencies leading the probes world-wide, has told British banking executives and U.S. regulators that it is worried about the appearance of having the first two banks that settle Libor-rigging allegations both hail from the U.K ...

  • France probes complaint of Libor rigging

    FRANCE has launched a probe into suspected rigging of Libor interbank lending rates after a complaint filed by a shareholder in Societe Generale bank, a judicial source says.

  • Lloyds latest UK bank to face Libor-rigging inquiry

    Lloyds latest UK bank to face Libor-rigging inquiry. Lloyds Banking Group has become the latest British lender to be drawn into the Libor-rigging investigations by state prosecutors in the US. A general view of the sign for a branch of Lloyds Bank in ...

  • UK's SFO expecting major developments in Libor probe

    The government department said in July it could prosecute banks for rigging Libor and related interest rates but had yet to decide whether to bring charges.

  • UBS, RBS Traders Suspended as Rates Probe Goes Past Libor

    UBS AG (UBSN) and Royal Bank of Scotland Group Plc suspended more than three traders in Singapore as regulators investigating Libor-rigging turn their attention to the rates used to set prices on foreign exchange derivatives. At least two foreign ...

  • Barclays forced to reveal names of 208 staff linked to Libor-rigging

    A High Court judge has forced Barclays to reveal the names of 208 staff linked to attempts to manipulate Libor. The bank will today hand over the names to the legal team of a care home operator, Guardian Care Homes, that is suing the bank for £38m for ...

  • Barclays plc forced to disclose the names of staff involved in Libor rigging

    Barclays plc (LON:BARC) will be forced to disclose the names of staff involved in Libor rigging, following a damning court judgment over claims it mis-sold interest rate swaps to a care home operator.

  • France probes complaint of Libor rate rigging

    PARIS - France has launched a probe into suspected rigging of Libor interbank lending rates after a complaint filed by a shareholder in Societe Generale bank, a judicial source said on Monday.

  • CBI chief defends banks over Libor

    Writing in The Times this morning, Mr Cridland said banks should be protected from lawsuits connected to Libor-rigging that could cost them billions of pounds. "Banks must be held accountable for the manipulation of Libor and the Wheatley Review has ...

  • Barclays faces new probes but profits climb strongly [London Evening Standard]

    The bank, which has already been fined pounds sterling 290 million this year for Libor rigging, said another fine could come as early as today from the US Federal Energy Commission, which has been investigating its western US power trading operations ...

  • Banks approach ECB about alternatives to Libor

    LONDON/BRUSSELS: A group representing some of the world's most powerful banks has approached the European Central Bank to seek backing for a new way to calculate the cost of funding after the Libor rigging scandal, people familiar with the matter ...

  • Barclays vs. FERC over LIBOR: The Pre-Game Warm Up

    The outcome of the case will reverberate beyond the massive penalty. Success for FERC against LIBOR rigging could pave the way for more cases against manipulation and making false statements, which could ultimately lead to nearly $1 billion in ...

  • Gas-market rigging: the lying game

    There are similarities here with the manner in which the benchmark Libor interest rates have been set, and rigged - but this is, if anything, even more unsatisfactory.

  • Sir John Vickers: Bank reforms are tough enough despite scandals

    Independent Commission on Banking chair Sir John Vickers has rejected calls to toughen up his bank reforms with a total separation of retail and investment banking in light of Libor rigging and misselling scandals. Speaking to the Parliamentary ...

  • Libor 2.0: The runners and riders

    Since US and UK regulators announced the June 27 settlement of investigations into Libor rigging at Barclays, commentators have been predicting the death of the benchmark - but it is not easy to replace an interest rate referenced by an estimated $300 ...

  • Diamond Libor Taint Drives Colby Students Seeking Ouster

    Under Diamond, 61, Barclays employees tried to rig the London interbank offered rate, or Libor, a global benchmark for lenders, credit providers and an array of financial agreements.

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