Tom Hayes, the former trader who became the face of the Libor scandal, won a last-ditch appeal to clear his name, undoing one of the most high-profile cases to emerge from the global financial crisis.
Former City traders convicted of the rate-rigging scandal have had their criminal charges overturned by the top UK court after years of fighting. The Libor scandal involved the manipulation of the ...
LIBOR is determined for five major currencies: US Dollar, British Pound Sterling, Euro, Swiss Franc and the Japanese Yen. A panel of banks are selected among the most active lenders in each currency ...
The London Interbank Offered Rate, or LIBOR—one of the most widely-recognized interest rate benchmarks of the past 37 years—will officially be retired today. The London Interbank Offered Rate, or ...
About the authors: J. Christopher Giancarlo served as chairman of the U.S. Commodity Futures Trading Commission. He was previously an independent director of the American Financial Exchange, the ...
It has been an arduous process to get the financial system to stop relying on the tarnished interest-rate benchmark. By Joe Rennison The arduous, decade-long process to end the financial system’s ...
LSEG’s post-trade division, LCH SwapClear, successfully completed the second and the final conversion last week, following the first USD Libor conversion event last month. LCH SwapClear completed its ...
Like slide rules and martini lunches, the London interbank offered rate (libor) was once a fine idea. In 1969 Iran’s central bank was looking for an $80m loan—at the time a hefty ticket for a ...
Companies that have yet to switch over from the London interbank offered rate before a June phaseout deadline may have ways to hang on to the borrowing benchmark—at least temporarily. Libor, which ...
Data, Regulation November 25, 2022 1:17 PM GMT FCA extends US dollar Libor to 2024 on synthetic basis The regulator confirms plans to publish synthetic one, three and six-month US dollar Libor rates ...
Bankers used it until the end. Regulators say good riddance after its infamous fall. By Lananh Nguyen and Jeanna Smialek The London interbank offered rate, a number that spent decades as a central ...