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 ...

— -- A new scandal in the banking industry is undermining its image, already tarnished by rogue trading at JPMorganChase and the 2008 subprime mortgage collapse. At the heart of the scandal: ...

It took more than a decade but Libor, the benchmark borrowing rate at the heart of a rigging scandal that blew up in the early 2010s, is now officially no more. A Libor rate was used for the last time ...

LONDON (Reuters) - Standard Chartered won its bid in a London court on Tuesday to replace the financial benchmark it used to set dividend rates for some shares, which the bank said provided "clarity" ...

Britain's NatWest Group has kicked off a campaign encouraging customers to dump the discredited Libor lending rate, as the coronavirus pandemic slows the pace at which borrowers are shifting to ...

When the LIBOR interest-rate fixing scandal broke wide open over the summer, I asked whether it was “The Crime of the Century.” The answer to that question relied on whether banks were understating ...

Tom Hayes, the first trader ever jailed for interest rate rigging, had his conviction overturned by Britain’s top court Wednesday after a years-long fight to clear his name. The UK Supreme Court ...

A widely-used benchmark for U.S. short-term interest rates has dropped to record lows, joining its European peers, in the latest sign that massive central bank stimulus has suppressed borrowing costs.

Is the increased gap between Libor and overnight rates a Machiavellian scheme, where liquid banks are forcing up Libor to earn extra cash on products that are indexed against this measure of money ...

For so long have senior bankers been telling investors, creditors, rating agencies, customers and anyone else who will listen that they just need interest rates to rise and banks will be much better ...

The UK Financial Conduct Authority (FCA) has abandoned its efforts to ban former Libor trader Tom Hayes from the banking industry. This decision comes just days after Hayes had his criminal conviction ...