Barclays PLC
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Goldman Sachs is selling about $1.1 billion worth of Hong Kong-traded shares in Industrial and Commercial Bank of China, the world's biggest bank.
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"Libor is critical to the bond markets globally and so for example mortgage rates are indexed off of it, a lot of the swap of activity in the bond market is indexed of Libor, so Libor plays a key role in the valuations of a lot of these bond contracts," George Goncalves, head of US rates strategy at Nomura Securities, told CNBC.
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"I think what the chairman, Marcus Agius, has done is bought time for Bob Diamond I think there is more information to come out and I think shareholders will be very anxious to see the full story and I think people will hold fire for the time being," Stephen Peak, head of pan European equities at Henderson Global Investors, told CNBC.
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Stocks finished the final trading day of the weak second quarter with a huge bang as Wall Street cheered a surprise agreement by EU leaders to help the region's struggling banks.
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An international response is needed to the issue of the manipulation of the Libor to ensure that cartel behavior is not possible, Sharon Bowles, Liberal Democrat MEP for South East England and chair of the European Parliament's Economic and Monetary Affairs Committee, told CNBC on Friday.
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U.S. stock index futures jumped Friday after European leaders unexpectedly agreed to take action to bring down Italy and Spain’s borrowing costs and create a single banking supervisory body.
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"What is really depressing about this is that it is just one in a long line of issues our banks have had with respect to transparency across the board and the worry is it is going to prompt a much greater regulatory burden going forward and at the end of the day it's going to cost jobs in the financial sector," Michael Hewson, analyst, CMC Markets, told CNBC.
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"There are probably twenty banks that have been implicated; I think Barclays might regret being the first ones to settle you may have read the wording of the settlement was actually complementary in terms of their cooperation, unfortunately the noise around the CEO is severe," Chris Wheeler, bank analyst at Mediobanca, told CNBC.
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Criminal sanctions can be applied in the U.S. for manipulating Libor but not in the UK and the UK government is looking into changing that, Mark Hoban, UK Financial Secretary, told CNBC.
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"I think this is going to carry on for a few more days, the amount of the fine is really immaterial, you worry about reputational damage but I don't know how much reputation the banks have anyway," Patrick Armstrong, managing partner at Armstrong Investment Managers, told CNBC.
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U.S. stock index futures held their losses Thursday, following the jobless claims and GDP data and amid skepticism that European leaders would overcome their differences to form a solution to tackle the ongoing debt crisis.
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CNBC's Kelly Evans reports Barclays has serious questions to answer over an investigation on whether the banking giant manipulated interbank lending rates over several years.
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A multiyear, global investigation into the setting of interest rates has focused on often complextrades in the financial centers of New York, London and Tokyo. But the accusations in the case have real-life consequences for consumers and businesses in the United States, the New York Times reports.
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CNBC's Eamon Javers reports on the CFTC's $200 million fine for Barclays, for alleged manipulation attempts of Libor.
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CNBC's Eamon Javers has a story that might just make your blood boil: a major bank admitting it tried to manipulate interest rates at the height of the financial crisis. Bart Chilton, CFTC Commissioner and Ross Intelisano, Rich, Intelisano & Katz, LLP, weigh in.
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Barclays will pay $200 million civil penalty to settle the CFTC Libor probe. Neil Weinberg, American Banker, weighs in.
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CNBC's Eamon Javers reports the big bank will pay a total of $454 million to settle allegations that it tried to manipulate Libor rates.
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Barclays will reportedly pay $200 million in penalties to settle a Libor probe. "These Libor rates impact the credit rates, the interest rates that people pay for everything," says Bart Chilton, CFTC commissioner, explaining how Barclays allegedly manipulated the Libor rate and the CFTC's plans to prevent this from happening again.
