The US Federal Deposit Insurance Corporation sued HSBC, Citigroup, Deutsche Bank and 12 other global banking heavyweights on Friday for manipulation of the Libor benchmark interest rate. The regulator ...

Michael C. Miller, a partner at Steptoe & Johnson, and Lara Romansic, of counsel at the firm, discuss rescission, which may be a potential solution to the determination of damages caused by LIBOR ...

In a recent alert, we highlighted the United Kingdom (UK) benchmark manipulation cases of Tom Hayes and Carlo Palombo from 2015 and 2019, respectively. Hayes was the first banker to be jailed in the ...

The scandal over the London Interbank Offered Rate (LIBOR) —one of the most important benchmarks for interbank lending—has been heating up, as governments investigate apparent collusion to manipulate ...

Libor is calculated for multiple terms each day by the British Bankers’ Association based on submissions received from 16 global banks. The four highest and the four lowest submissions are disregarded ...

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When the LIBOR interest-rate fixing scandal broke wide open over the summer, I asked whether it was “The Crime of the Century.” The answer to that question relied on whether banks were understating ...

Sign up for The Media Today, CJR’s daily newsletter. The business papers all report news that the Department of Justice, SEC, and Commodities Futures Trading ...

WASHINGTON, July 11 (Reuters) - State attorneys general are jumping into the widening scandal over whether banks tried to manipulate benchmark international lending rates, a move that could open a new ...

AMSTERDAM (Reuters) - The Dutch central bank and financial markets authority are investigating the possible manipulation of interbank lending rates in conjunction with other regulators, a central bank ...

On October 1, 2024, the United Kingdom Financial Conduct Authority (UK FCA) phased out ‘Zombie’ LIBOR, as a transitional benchmark, with the move to alternative “risk-free” rates. To be addressed in ...