The UK Treasury has taken control of LIBOR away from the British Bankers' Association and handed it to New York Stock Exchange following the rate rigging scandal.
Supervision of the scandal hit Libor interest rate could move to Paris under plans being drawn up by the European Commission, dealing a potential blow to London's financial pre-eminence.
The UK FSA was aware that Libor rigging could pose a ‘significant issue’ to the UK’s banking system as early as 2008, an internal report has shown.
Banks will be compelled to be part of Libor under new rules, says Taylor Wessing partner Laurence Lieberman
Laurence Lieberman, a partner in the financial disputes group at international law firm Taylor Wessing, says that banks should prepare themselves for forced participation in setting Libor rates.
UK bank RBS has been fined a collective £391m for its role in the Libor scandal, with the UK FSA’s investigation finding over 200 “inappropriate” rate submissions.
Barclays has threatened "substantial" job cuts in its London investment bank, ahead of a review of its operations by new chief executive Antony Jenkins.
Two executives at Royal Bank of Scotland are reportedly under pressure to step down as US and UK regulators are concerned about the culture of the investment banking division at the bank.
Standard Life Investments has hired Adam Rudd to the multi-asset investment team as investment director.
A UK care home group is suing Barclays for £37m over the rigging of LIBOR in a landmark case which could force the bank to disclose the names of managers involved in the scandal.
Yesterday Investment Europe explained how the Baltic Exchange calculates the Baltic Dry index, a cost benchmark for transporting dry bulk cargo such as coal and iron ore. Today, Bill Lines from the Baltic Exchange explains how the method of producing...
Libor has hit the headlines recently, for all the wrong reasons. Today we explain how the London Interbank Offered Rate is determined.
Threadneedle Investments is the latest global manager to launch a new multi-asset fund, joining the rush to profit from the booming demand for the asset class.
Professor Raghavendra Rau at the Cambridge Judge Business School says that the UK government-commissioned Wheatley Review into the LIBOR rate rigging allegations should make the banks put their money where their mouths are.
Libor, one of the fundamental measures used in capital markets, has now been widely discredited due to the unfolding scandal of its production. However, as practitioners hunt for replacements, research by Finadium suggests the major alternatives also...
Regulators worldwide are considering what their next steps are in regards to the Libor rate-fixing scandal that is swallowing a growing number of banks, in Europe as well as the UK.
Martin Wheatley of the UK’s Financial Services Authority discusses his plans to reform the Libor rate with Maryam Nemazee on Bloomberg TV’s The Pulse.
The UK Financial Services Authority (FSA) will today suggest scrapping LIBOR and replacing it with a borrowing rate based on actual trades, it has been reported.
Denmark's BRF Kredit has joined those arguing for a review of the way interbank rates work in Denmark.