Freddie Mac Sues Big Banks Over LIBOR
Government-owned Freddie Mac accuses the banks, including Bank of America, of acting collectively to hold down the U.S. dollar LIBOR.
Now It’s Not Just LIBOR
Regulators globally are broadening the spread of their investigations into rate setting that began with manipulation of LIBOR.
RBS Wins: Singapore LIBOR Papers to Be Sealed
The decision came in a closed hearing after the bank said that public availability of the documents could have “extensive potential prejudice” on confidential regulatory investigations.
RBS Leaves U.K. Asset Protection Plan
Royal Bank of Scotland Group has paid 2.5 billion pounds ($4 billion) to the British government to insure its riskiest assets and agreed to exit the Asset Protection Scheme.
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.
Ireland Investors Warned of Coming Losses
Ireland’s bonds have been the second-best-performing in the eurozone in 2012, but a Citigroup economist says that the country’s hopes to avoid debt restructuring by raising money in the markets are premature.
Deposit Flight Jeopardizes Euro: Report
Deposit outflows from the banks of four countries in the eurozone are contributing to a failure of economic growth and undermining the joint currency itself.
Barclays Names Jenkins CEO
Antony Jenkins, head of Barclays' consumer business, is taking over the spot vacated by Bob Diamond in the heat of the LIBOR scandal.
German Bonds Lose Favor as Bailouts Loom
Investors are pulling money out of Bunds and seeking what they see as safer investments.
U.K. Recession Deepens
As the world counts down to the opening of the Olympic Games in London on Friday, Londoners—and others in Britain—are dealing with an economy that in Q2 of this year slowed considerably more than expected.