Six Banks Set LIBOR
In the wake of the scandal that revealed LIBOR under manipulation by banks all over the world, the benchmark lending rate is suffering a credibility gap even as a smaller core group of banks contributes to setting the rate.
French Banks’ Trading Assets Create ‘Systemic Risk’
The investment banking units of BNP Paribas, Société Générale, Credit Agricole and Natixis hold 2.05 trillion euros ($2.64 trillion) in trading assets.
Sandy Weill Wants Banks Small Again, Chris Dodd Wants Them Big
If politics makes strange bedfellows, it also makes for strange adversaries.
Traders May Face Criminal Charges Over LIBOR
U.S. and European authorities are said to be close to making arrests and bringing criminal charges in the LIBOR manipulation scandal.
Regulators Question Interest Rates From Sweden to Singapore
Regulators are questioning how interest rates are set across the globe—not just LIBOR and EURIBOR, but also various in-country rates.
Morgan Deemed ‘Winner’ in Moody’s Bank-Rating Massacre
Fifteen banks in the U.S., U.K. and Europe with global capital markets operations saw their ratings cut by Moody’s, some by as many as three notches.
BlackRock to Plan Asia Investment Fund with CIC
BlackRock is said to be planning to launch an Asia investment fund together with China Investment Corp., China’s sovereign wealth fund.
Yields, Demand Both up on Spanish Bonds
While investors may be jittery about Spain’s financial condition, they jumped on higher yields to scoop up bonds at an auction beyond what Madrid had hoped to sell.
Market Will Set Yuan Level: China
Investors have been expecting a reduction in how much cash must be kept at PBOC by commercial lenders, after required reserve ratios were cut in November and again in February to lower them from their record high in June of 21.5%.
Greek Debt Crisis Weighs on Banks
Europe’s banks are tallying up the losses from Greek sovereign debt, and the picture is not a pretty one. Euro losses in the billions are taking a toll on earnings and banks are posting heavy hits in the midst of a need to find additional capital to meet new banking...