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Libor

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  • Geithner Was Told of Libor Fears in 2008 Wednesday, 19 Dec 2012 | 1:47 AM ET
    U.S. Treasury Secretary Timothy Geithner

    The Federal Reserve Bank of New York was warned as early as mid-2008 that banks may have been misreporting their Libor borrowing rate to aid their own trading positions, much earlier than previously known.

  • UBS Near Settlement With US, UK Over Libor Monday, 3 Dec 2012 | 3:09 AM ET

    Swiss bank UBS is close to a settlement with U.S. and U.K. authorities and is expected to pay more than $450 million over claims that some of its employees submitted false Libor rates, the NYT reported.

  • Nine More Banks Added to Libor Probe Friday, 26 Oct 2012 | 2:25 AM ET

    Nine of the world’s biggest banks are facing increased scrutiny from US state prosecutors probing alleged attempts to manipulate the lending gauge known as Libor, the FT reports.

  • US Woman Takes on Banks Over Libor Monday, 15 Oct 2012 | 2:00 AM ET

    A pensioner whose home was repossessed is taking on some of the world’s leading banks in the first known class-action lawsuit claiming that alleged Libor manipulation made mortgage repayments for thousands of Americans more expensive than they should have been. The FT reports.

  • Global Regulators Follow UK’s Libor Lead Saturday, 29 Sep 2012 | 1:00 AM ET
    London Eye Big Ben Dusk

    The UK’s plan to reform the world’s most important lending rate will guide a global drive towards more transparent and reliable pricing for everything from home mortgages and gold to heating oil, regulators said on Friday. The FT reports.

  • London Financial District

    Those who took part in the manipulation of the London interbank offered rate (Libor), the key benchmark rate, could face criminal prosecution even though Libor manipulation is not yet a criminal offense.

  • Alaska: The Next Libor Litigation Frontier? Monday, 13 Aug 2012 | 6:05 AM ET
    Anchorage, Alaska

    The Libor scandal, which began in London with bankers accused of manipulating a key global interest rate, has reached the Alaskan wilderness. Or at least that's the hope of New York plaintiffs' lawyer Brian Murray.

  • Libor Case Energizes a Wall Street Watchdog Monday, 13 Aug 2012 | 4:05 AM ET
    Gary Gensler

    The Barclays case has thrust Mr. Gensler—and his once-obscure agency—into the spotlight, the New York Times reports.

  • FSA Suggests Libor Should Be Scrapped Friday, 10 Aug 2012 | 6:42 AM ET

    The City watchdog will on Friday fire the starting shot on a dramatic overhaul of key benchmark borrowing rates with a package of proposals designed to restore trust following the recent Libor scandal, the Financial Times reports.

  • Libor: What Criminal Charges Are Likely? Monday, 23 Jul 2012 | 1:40 PM ET

    The news that U.S. prosecutors are close to arresting traders in connection with the Libor scandal gives rise to the question: what criminal charges are prosecutors likely to levy?

  • Libor Rates: A Readers Guide Friday, 6 Jul 2012 | 7:13 PM ET

    Now that Barclays has admitted that for years it rigged its submissions for the London Interbank Offered Rate, or Libor, it’s probably worth taking a closer look at how this key interest rate benchmark is calculated.

  • LIBOR is the London InterBank Offered Rate, a key interest rate used by banks for short-term lending with other banks. For those who are fuzzy on the topic, Salman Khan of the Khan Academy explains what LIBOR is and how it is used.

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