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Barclays, US States In $100 Million Libor Fraud Settlement
British financial giant Barclays Bank PLC on Monday reached a $100 million settlement with 44 US states and the District of Columbia over interest rate manipulation in the financial crisis era.
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Four Ex-Barclays Bankers Jailed For Rigging Libor Rate
Four former Barclays bankers were Thursday jailed for manipulating the key inter-bank Libor interest rate, with the highest sentence being 6.5 years, Britain's Serious Fraud Office said.
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Ex-Barclays Traders Sentenced To Up To Six-And-A-Half Years In Jail For Libor Rigging
Four former Barclays bankers were sentenced to between 33 months and six-and-a-half years in jail by a London judge on Thursday for conspiring to rig global benchmark interest rates.
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Ex-Barclays Trader Was 'Under Pressure' To Lie About Libor Setting
One of five former Barclays bankers on trial for the alleged rigging of a key Libor benchmark told a court on Friday he had lied about submitting rates for traders because he felt under pressure from his manager and the bank to "toe the line".
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Bank of America, 6 Other Banks To Pay $324 Million To Settle Suit
Seven big banks, including Bank of America, JP Morgan, Credit Suisse and Deutsche Bank, have agreed to pay a total of $324 million to settle a lawsuit accusing them of market manipulation of interest rates.
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British Trader Jailed for 14 Years for Rigging Libor Rates
A British trader was jailed Monday for 14 years for rigging the Libor lending rate while working for UBS and Citibank, in a landmark conviction the judge said would send a message to the banking world.
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Capital Account Convertibility Inescapable: RBI
RBI Governor Raghuram Rajan had last month said that the central bank aims to move towards capital account convertibility as also set up a system where loans could be benchmarked against market rate, alike London Interbank Offered Rate (Libor).
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Deutsche Bank Fined $2.5 Billion for Fixing Rates
German banking giant Deutsche Bank will pay $2.5 billion in fines after admitting its guilt in a multi-bank conspiracy to rig Libor interest rates, US and British authorities said on Thursday.
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Libor-Like Rate to Help Speed Up Policy Transmission: Analysts
The Reserve Bank of India's plan to introduce an external benchmark rate, like the Libor or London Interbank Offered Rate, for better pricing of various financial products is likely to speed up the monetary policy transmission process, analysts said.
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Swiss National Bank Introduces Negative Interest Rates
In a brief statement, the SNB said it would impose an interest rate of -0.25 per cent on sight deposit account balances of over 10 million Swiss francs and expand its three-month Libor target range to -0.75 per cent to 0.25 per cent.
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European Commission fines banks $2.3 billion for interest rate rigging
The banks named as participating were Barclays, Deutsche Bank, Royal Bank of Scotland, Societe Generale, Credit Agricole, HSBC, JPMorgan, UBS, Citigroup and RP Martin.
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Deutsche Bank, Barclays lose bid to remove Libor allegations from court cases
Barclays and Deutsche Bank failed on Friday to remove allegations of interest rate rigging from two ongoing lawsuits, meaning they could stand to lose millions of pounds.
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Dutch lender Rabobank fined $1 billion over Libor scandal
US and European regulators ordered Dutch lender Rabobank to pay $1.07 billion to settle allegations it aided a six-year scheme to rig benchmark interest rates, imposing the fifth fine in a scandal that has helped to shred faith in the industry.
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RBI clarifies rule on trade credit for imports
Importers can avail of trade credit at an all-in-cost ceiling of 350 basis points over the London Interbank Offer Rate (LIBOR) till September 30, the RBI added.
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How London's gold and silver prices are 'fixed'
London's gold and silver markets face the possibility of a probe into price setting, putting a century-old practice under the spotlight after the Libor rigging scandal that exposed widespread interest rate manipulation by banks.
-
Barclays, US States In $100 Million Libor Fraud Settlement
British financial giant Barclays Bank PLC on Monday reached a $100 million settlement with 44 US states and the District of Columbia over interest rate manipulation in the financial crisis era.
-
Four Ex-Barclays Bankers Jailed For Rigging Libor Rate
Four former Barclays bankers were Thursday jailed for manipulating the key inter-bank Libor interest rate, with the highest sentence being 6.5 years, Britain's Serious Fraud Office said.
-
Ex-Barclays Traders Sentenced To Up To Six-And-A-Half Years In Jail For Libor Rigging
Four former Barclays bankers were sentenced to between 33 months and six-and-a-half years in jail by a London judge on Thursday for conspiring to rig global benchmark interest rates.
-
Ex-Barclays Trader Was 'Under Pressure' To Lie About Libor Setting
One of five former Barclays bankers on trial for the alleged rigging of a key Libor benchmark told a court on Friday he had lied about submitting rates for traders because he felt under pressure from his manager and the bank to "toe the line".
-
Bank of America, 6 Other Banks To Pay $324 Million To Settle Suit
Seven big banks, including Bank of America, JP Morgan, Credit Suisse and Deutsche Bank, have agreed to pay a total of $324 million to settle a lawsuit accusing them of market manipulation of interest rates.
-
British Trader Jailed for 14 Years for Rigging Libor Rates
A British trader was jailed Monday for 14 years for rigging the Libor lending rate while working for UBS and Citibank, in a landmark conviction the judge said would send a message to the banking world.
-
Capital Account Convertibility Inescapable: RBI
RBI Governor Raghuram Rajan had last month said that the central bank aims to move towards capital account convertibility as also set up a system where loans could be benchmarked against market rate, alike London Interbank Offered Rate (Libor).
-
Deutsche Bank Fined $2.5 Billion for Fixing Rates
German banking giant Deutsche Bank will pay $2.5 billion in fines after admitting its guilt in a multi-bank conspiracy to rig Libor interest rates, US and British authorities said on Thursday.
-
Libor-Like Rate to Help Speed Up Policy Transmission: Analysts
The Reserve Bank of India's plan to introduce an external benchmark rate, like the Libor or London Interbank Offered Rate, for better pricing of various financial products is likely to speed up the monetary policy transmission process, analysts said.
-
Swiss National Bank Introduces Negative Interest Rates
In a brief statement, the SNB said it would impose an interest rate of -0.25 per cent on sight deposit account balances of over 10 million Swiss francs and expand its three-month Libor target range to -0.75 per cent to 0.25 per cent.
-
European Commission fines banks $2.3 billion for interest rate rigging
The banks named as participating were Barclays, Deutsche Bank, Royal Bank of Scotland, Societe Generale, Credit Agricole, HSBC, JPMorgan, UBS, Citigroup and RP Martin.
-
Deutsche Bank, Barclays lose bid to remove Libor allegations from court cases
Barclays and Deutsche Bank failed on Friday to remove allegations of interest rate rigging from two ongoing lawsuits, meaning they could stand to lose millions of pounds.
-
Dutch lender Rabobank fined $1 billion over Libor scandal
US and European regulators ordered Dutch lender Rabobank to pay $1.07 billion to settle allegations it aided a six-year scheme to rig benchmark interest rates, imposing the fifth fine in a scandal that has helped to shred faith in the industry.
-
RBI clarifies rule on trade credit for imports
Importers can avail of trade credit at an all-in-cost ceiling of 350 basis points over the London Interbank Offer Rate (LIBOR) till September 30, the RBI added.
-
How London's gold and silver prices are 'fixed'
London's gold and silver markets face the possibility of a probe into price setting, putting a century-old practice under the spotlight after the Libor rigging scandal that exposed widespread interest rate manipulation by banks.
