The FDIC sued 16 of the world's largest banks on Friday, accusing them of collusively suppressing interest rates, Reuters reported.» Read More
ICAP, the world's largest interdealer broker, has been fined $87 million by regulators over its role in the Libor rate rigging scandal.
David Enrich, European banking editor at the Wall Street Journal, comments on the sale of Libor to NYSE Euronext, and why the U.S. stock exchange was chosen.
Bankers who behave recklessly would be jailed under a new law being considered by MPs and peers on the banking commission, whose final report is due next month. The FT reports.
Gary Gensler, chairman of the Commodities Future Trading Commission, tells CNBC what he thinks is the most critical issue for global financial markets at present.
Gary Gensler, chairman of the U.S. Commodity Futures Trading Commission, talks about the Libor rate and the possible alternatives.
Was Libor the risk-free rate of interest or the cost of borrowing? Apparently the derivatives market believed one thing and lenders believed another.
Jim Antos, Bank Analyst at Mizuho Securities Asia discussed the Libor scandal and says that management should also take blame for the rate fixing scandal.
Former FDIC Chair Sheila Bair of Pew Charitable Trusts discusses whether she was surprised by the DOJ's civil lawsuit against Standard and Poor's, and offers her opinion on the LIBOR scandal.
In total RBS, Barclays and UBS will pay nearly $3 billion in fines stemming from the multi-year practice of artificially suppressing these benchmark interest rates, a practice that spanned the financial crisis and beyond.
The growing oil supply glut in the Midwest and the inability to transport and offload these supplies via pipeline to refineries along the Gulf Coast has created the widest price differential of the year between the world's largest oil futures contracts.
Banks that rigged interest rates behaved in "brazen, flagrant" fashion, the head of the Commodities and Futures Trading Commission told CNBC on Wednesday.
UBS saw weak client inflows at its flagship private bank in the fourth quarter as it reported a hefty net loss due to a $1.5 billion fine for rigging benchmark interest rates and restructuring costs.
Royal Bank of Scotland faces the prospect of scrapping all bonuses for its investment bankers this year to free up cash to pay fines for its involvement in a global interest rate rigging scandal.
Royal Bank of Scotland Group is close to a 500 million pounds ($785.32 million) settlement with U.S. and British authorities over claims that some of its employees submitted false Libor rates, the Wall Street Journal reported, citing people briefed on the negotiations.
George Osborne is braced for a new political backlash over bank bonuses, as state-controlled Royal Bank of Scotland prepares to pay as much as 250 million pounds to staff at an investment banking division heavily implicated in the Libor-rigging scandal. The FT reports.
Barclays was forced to name former heads Bob Diamond and John Varley, finance director Chris Lucas and other top executives and traders linked to a global rate-fixing probe, despite their calls for anonymity.
Germany's Deutsche Bank benefited from trades pegged to the London Interbank Offer Rate (Libor) currently under investigation, the Wall Street Journal reported on Thursday, adding that the bank made at least 500 million euros ($654 million) in profit from the trades in 2008.
UBS has yet to fully purge itself of a global interest rate scandal that has put it at risk of a wave of costly civil suits, its investment banking chief said on Wednesday.
The official U.K. Libor manipulation report points the finger at five banks for helping UBS rig the rate. So which banks were they?
The scale of Libor manipulation at Swiss bank UBS was laid bare today in documents published by U.K. authorities which showed one trader openly boasting of keeping the benchmark rate artificially low.
CNBC's Mary Thompson reports Bank of America, Citi Group, and JPMorgan Chase are among 16 big banks being sued by FDIC for manipulating the LIBOR benchmark interest rate.
Banks will face security fees for not updating Windows XP-run automated teller machines as Microsoft withdraws support.
VEB needs to be recapitalized to fund housebuilding projects, Russian Prime Minister Dmitry Medvedev said, according to a news agency.