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LIBOR SCANDAL
RBI relaxes norms to facilitate LIBOR migration, how!The central bank decided to amend the guidelines related to export credit in foreign currency and restructuring of derivative contracts.- RBI warns banks of LIBOR preparednessIn March, the UK’s Financial Conduct Authority (FCA) said that all LIBOR settings would either cease to be provided by administrators or no...
- IBA asks banks for Libor alternativeMIFOR is priced after adding a mark-up over Libor, which will cease to exist globally after 2021.
- Get ready for Libor phase-out: IBAFollowing the Libor scandal, the financial conduct authority of the UK has decided to phase out the rate by the end of 2021.
- Demise of Libor: A global trend that many overlookLibor was introduced in 1986 as a measure of wholesale interbank lending rates.
- Anshu Jain gets clean chit on charges of lying to German bank in rigging caseThe BaFin President, however, added that all other allegations against Jain and Deutsche Bank were still being evaluated by the regulator.
- RBI to check benchmark rates?RBI has asked the government to amend laws to empower the central bank with powers to regulate benchmark rates.
- Swiss banking major UBS must be shut down on libor chargeConspirators at the Swiss banking major have been charged with manipulating the benchmark to reap profits and big personal bonuses.
- British Bankers Association bows out of role as Libor's chief arbiterBritish Bankers Association, the body that has been in charge of setting Libor since 1986, officially bowed out of its role as the chief ar...
- The shadow of liborgateThe question now is what else and, more importantly, whether a weak-kneed US President Barack Obama has the courage to do anything but yelp...
- Barclays says Bob Diamond foregoes £20 mn bonus, deferred payDiamond had been in for deferred bonuses of up to 20 million pounds before he quit last week in the wake of a scandal over rigging interban...
- Libor scandal: Split of UK parent will weaken Barclays' India operationsThe Indian unit of Barclays may become a weaker entity if the parent is split into retail and investment banks.
- Barclays strategy backfires in Libor scandalBob Diamond and the rest of the Barclays board sowed the seeds of their own downfall when they chose to come clean about Libor fixing.
- Lord Paul seeks intensive probe into UK banking crisisLord Swraj Paul has demanded an intensive probe into the raging banking crisis in Britain, saying the Libor fixing has hurt the reputation ...
- Determination of 'London Interbank Offered Rate' must be above suspicionThe scandal involving the Libor, which serves as a benchmark for determining the rate of interest, has already cost Barclays dear.
- Rate-fixing scam forces NSE, dealers to find ways to improve rate calculation methodLast year, RBI came out with a cryptic communique, the implications of which were lost beyond the money markets of Nariman Point, Bandra.
- Succession race for Bank of England governor roiledChancellor of the Exchequer George Osborne's search for the next BoE governor just got even tougher as the Libor-rigging scandal casts a sh...
- ET in the classroom: Lens on LiborThe Libor fixing scandal has put an unwelcome spotlight once again on the world of banking and highly paid bankers.
- NRI economist drawn into UK bank crisisShriti Vadera, who worked closely with former Prime Minister Gordon Brown, has come under focus in the latest scandal that has hit British ...
- After holding out, Barclays CEO Bob Diamond & COO Jerry del Missier quit over Libor scamBarclays has found itself facing perhaps the worst crisis after its top execs - Diamond & Jerry del Missier quit, both victim to an interes...
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