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 ...
Discover how MIFOR, the Mumbai Interbank Forward Offer Rate, influenced Indian banking with forward agreements and ...
— -- 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: ...
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 ...
The secured overnight financing rate (SOFR) is an important benchmark rate that reflects the average interest rate banks pay to take out secured loans in U.S. dollars overnight. The loans are secured ...
In “The Trading Game,” Gary Stevenson spills secrets of the City. By Mark Gimein It has been an arduous process to get the financial system to stop relying on the tarnished interest-rate benchmark. By ...
Aug 5 (Reuters) - Companies including chipmaker Avago Technologies and food product producer Pinnacle Foods are issuing leveraged loans without Libor floors as the key benchmark rate rises. Sign up ...
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