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 ...

Libor is calculated for multiple terms each day by the British Bankers’ Association based on submissions received from 16 global banks. The four highest and the four lowest submissions are disregarded ...

On October 1, 2024, the United Kingdom Financial Conduct Authority (UK FCA) phased out ‘Zombie’ LIBOR, as a transitional benchmark, with the move to alternative “risk-free” rates. To be addressed in ...

LONDON, March 25 (Reuters) - Tom Hayes, the first trader ever jailed for interest rate rigging, launched a bid to clear his name at Britain's top court on Tuesday, arguing it was not automatically ...

Remember Libor? For decades, the London interbank offered rate was the benchmark for pricing a wide variety of loans, including adjustable-rate mortgages. But over recent years, it’s been completely ...

Any reference to a specified source for USD LIBOR shall be replaced with the publication of the applicable Board-selected benchmark replacement (inclusive of the applicable tenor spread adjustment) by ...

The Supreme Court is poised to rule on the cases of two former City traders jailed for rigging interest rates, amid concerns raised by senior politicians that there may have been a series of ...

Two years after the U.K. Financial Conduct Authority announced an end date for the London interbank offered rate, there has been an alarming lack of progress in preparing for a conversion to a new ...

The LIBOR money-market rates, widely used around the world as the benchmark for interest rates on mortgages, credit cards and billions of dollars worth of other financial transactions, will be cleaned ...

It’s been a bad week for banking – and the next few weeks and months will likely get worse. With new arrests in London, the investigations over manipulation of LIBOR – the London interbank lending ...