After 45 years of career and a scandal that decreed its end, the Libor, the reference rate of the financial markets, will be replaced by a new regime based on risk-free overnight rates
The profits of the Spanish bank amounted to 1,46 billion euros, compared to 1,70 billion in the third quarter of last year - The first European bank, on the other hand, does better than expected, almost tripling its profit from 256…
Former trader Tom Hayes was found guilty of manipulating the interbank rate between 2006 and 2010 - Now he faces up to 10 years in prison.
Six of the largest banks in the world will pay $5,7 billion to settle the dispute with the American authorities over the manipulation of exchange rates: these are JP Morgan, Citigroup, Barclays, UBS, Bank of America and Royal Bank of…
The Bank has already paid 725 million euros to the European Union Antitrust following the closure of investigations into the manipulation of the interbank index.
Overall, the fine is 115 million dollars (approximately 94 million euros). It concerns the manipulation of the Libor rate in Swiss francs
According to "Manager-magazin" the Libor exchange rate manipulation scandal could overwhelm Deutsche Bank co-CEO Anshu Jain - The German bank is already looking for his replacement to protect itself in case Jain's involvement in the affair is proven.
A full year after the scandal of benchmarks artfully built on manipulated data, the European Commission passes a text that requires benchmark providers to be more transparent and subject them to rigorous controls - The…
Supervision of the Libor interbank rate will be handed over to Nyse-Euronext, the company that manages the New York Stock Exchange. This was announced by the British Treasury. The Financial Markets Supervisory Authority assumed responsibility for Libor in April. The period…
After the scandal over the manipulation of the interbank rate, the European Commission would like to assign the responsibility for calculating the main interbank rate to the European Securities and Markets Authority, a European authority based in Paris.
“Never Worked for money… Libor? I didn't even know how to calculate it” – But from the English Bank he received 98 million pounds in six years and 2,7 million in bonuses in 2012 alone.
The British Bank closes the first quarter of 2013 with pre-tax profits below analysts' expectations, at 1 .79 billion pounds - Pays restructuring costs after the Libor scandal - Net profits, however, go down…
Decision comes as part of strategic restructuring plan - Embroiled in the Libor rate manipulation scandal, Barclays posted £1,04bn in net losses last year.
The Scottish Bank is the third fine received so far in the investigations into the Libor scandal and is placed on the second step of the podium, ahead of that imposed on Barclays (about 454 million dollars), but behind the unapproachable record of…
The leading German bank, under investigation for the Libor affair, has announced that the good operating result was overshadowed by write-downs of 1,9 billion euros in amortization and depreciation, necessary for the creation of the new divisional structure and the skimming of…
The 800 million dollar fine imposed on the Scottish institution would be lower only than the 1,5 billion dollar fine paid by Ubs - For Rbs, this is a huge blow to its image: the top management of the investment divisions are at risk…
The Swiss giant has admitted to having contributed to the manipulation of the Libor interbank rate and has therefore reached an agreement with the supervisory authorities of three countries to pay a maxi-fine of 1,5 billion dollars.
The Swiss bank risks a fine three times higher than that imposed on Barclays - More than 30 people including executives and bankers are involved.
The hypothesis on the Swiss company's plea deal has been relaunched by the New York Times, but has not yet received confirmation - Of the other banks involved in the Libor scandal, only Barclays has admitted its responsibilities so far, also paying a fine...
Martin Wheatley, director of the Financial Service Authority (FSA), illustrated at Mansion House the recommendations prepared for David Cameron's government - The goal is to make the Libor as close to reality as possible by removing it from the area of discretion - Sanctions…
The BBA, after the new proposals of the team of Wheatley, director of the English Consob (FSA), will no longer fix the Libor rate - In the meantime, the RBS could be the second bank to pay a maxi fine - But the real…
The manipulation of the Libor has been talked about in London since 2008 - The Bank of England did not want to act and is now paying the consequences - The scandal, which has now become public, led to the resignation of Barclays, before…
Judicial authorities in Connecticut and New York have asked seven banks involved in the investigation into the manipulation of interbank interest rates to provide them with the documents requested for the searches. The target? Look for other banks involved.
There is no peace for the lawyers who are dealing with the Libor case: now even in Alaska and in another twenty American states they have denounced manipulations of Libor. The scandal has been going on for 16 months with a…
ADVISE ONLY - Everything you never dared to ask about the Barclays scandal, which cost the British bank a £290 fine - Why the Libor was manipulated and what the consequences are for savers…
His first task will be to elect the new CEO who will take over from Bob Diamond - From November XNUMX, Walker will replace Marcus Agius, who resigned following the Libor scandal.
Many lenders involved in the Libor scandal are starting negotiations to seek an agreement with the authorities: their collaboration can lead to less expensive fines. UBS and Deutsche Bank follow Barclays' example. Meanwhile, the British Government…
Trani's prosecutor Ruggiero calls two experts for advice to resolve the scandal. Ubs, despite wanting to demonstrate its non-involvement in the scandal, is nonetheless on the list of suspects for the manipulation of Libor. Deutsche Bank wrote…
On Friday, the Trani prosecutor's office opened an investigation at the request of Federconsumatori and Adusbef, into the manipulation of Euribor rates to the detriment of Italian citizens who have to pay their mortgages - Meanwhile in Europe, banks are collaborating with the European authorities:…
After Barclays and Lloyds, the Royal Bank of Scotland is also on the list of banks under investigation in the Libor case - In Germany, however, we are already witnessing the evolution of the scandal which is on a European level - End of the scandal in September?
The British bank Barclays apologizes, through its chairman Marcus Agius, for everything that happened, while publishing its 2012 profits - But all banks now fear a Diamond-bis - Meanwhile, Japan fears a…
Yesterday in Congress, former Federal Reserve Chairman and current US Treasury Secretary Geithner attempted to defend his position in the Libor case. But another British bank has come under investigation: Lloyds Banking Group.
According to the Washington Post, Treasury Secretary Geithner's position is increasingly less stable because he would have been aware of the manipulation of Libor since 2008. Geithner, however, replies that everything in his power had been done. In…
The European Commissioner for the Internal Market proposes to punish cases of manipulation of the Libor even with prison in the most serious cases - "Immoral and scandalous behavior that has seriously damaged businesses and families" - "Some financial institutions and…
An internal investigation by Deutsche Bank has revealed the involvement of two of its traders, who will join the other dozen speculators on the list of suspects and close to arrest and sanctions
The defense confirmed: we have been contacted about the arrest of suspects in the Libor scandal. A Euribor scandal could also arise. The process is also being analyzed in Europe.