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 ...

WASHINGTON — Breaking up is hard to do. Breaking up with an interest rate that is baked into millions of contracts worth trillions of dollars is even harder, but 2022 was the year the financial system ...

— -- A new scandal in the banking industry is undermining its image, already tarnished by rogue trading at JPMorganChase and the 2008 subprime mortgage collapse. At the heart of the scandal: ...

Much information has been published in recent months on the discontinuation of The London Inter-bank Offered Rate (LIBOR) and what is to replace it. Set out below is a summary of what has happened and ...

The Federal Housing Administration (FHA) on Wednesday published the “Adjustable Rate Mortgages: Transitioning from LIBOR to Alternate Indices” final rule in the Federal Register, providing ...

On September 29, 2021, the UK Financial Conduct Authority (UK FCA) proposed that synthetic LIBOR rates (i.e. ‘Zombie’ LIBOR) be published next year for certain currencies, for a maximum of ten (10) ...

Regulators recently gave lenders and market-makers definitive guidance on the end game for Libor, the tainted interest-rate benchmark, tied to trillions of dollars in loans, credit cards and ...

Libor, or the London Interbank Offered Rate, will no longer be used for new derivatives and loans as of Jan. 1. The benchmark and reference rate, which had $265 trillion linked to it globally at the ...

For half a century the series of interest rates known collectively as the London interbank offered rate, or Libor, has helped determine the cost of all sorts of borrowing around the world. But over ...

(Reuters) - Libor, the London interbank offered rate, is a global benchmark for interest rates on everything from credit cards to trillions of dollars in financial derivatives and is at the heart of a ...

Differences in LIBOR replacement rates could upset complex deal structures. Floating rate debt instruments for commercial real estate loans and many other forms of financing have for decades relied on ...