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 ...

— -- 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: ...

Nov 17 - A former broker at ICAP Plc accused of helping rig benchmark interest rates denied the charges in court on Tuesday, saying he would have gone from "hero to zero" if he had favored convicted ...

LONDON (Dow Jones)--The cost of borrowing longer-term U.S. dollars in the London interbank market continued to fall Thursday, hitting its lowest rate since the British Bankers' Association first ...

Standard Chartered issued preference shares to Guaranty to satisfy certain regulatory capital requirements. Guaranty was the sole registered shareholder as nominee for a depository which issued ...

MCLEAN, Va., Dec. 22, 2022 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today announced that it will transition its legacy U.S. dollar (USD) LIBOR-indexed contracts to an index based on the Secured ...

BUFFALO, N.Y., June 14, 2023 /PRNewswire/ -- M&T Bank Corporation (MTB) (NYSE: MTB, M&T) announced today that CME Term SOFR will be the replacement reference rate for certain outstanding floating rate ...

The cost of three-month dollar loans slid to a new record low today after Bank of America Corp. said it had raised around $13.5 billion to shore up its capital position. Earlier this month, the U.S.

LONDON (AP) — British police arrested three people Tuesday as part of their investigation into the manipulation of a key benchmark interest rate — the first British arrests in a scandal that’s had ...