RBS Managers Condoned LIBOR Manipulation: Report
Between 2007 and 2010 it was common for not just RBS traders but their managers as well to push the rate up or down to boost derivatives profits, Bloomberg said.
LIBOR Likely Not Only Benchmark Manipulated: Regulators
A confidential IOSCO discussion paper said fewer than half the benchmark interest rates examined in the U.S., Europe and Asia were arrived at via actual transactions.
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.
BoE Governor Pushed for Barclays Chief’s Ouster
The British Parliament got an earful over the last couple of days as testimony continued in the LIBOR-fixing scandal.
RBS Next to be Fined in LIBOR-Rigging Scheme
The inquiry into a LIBOR-rigging scheme looks set to claim another quarry as RBS will reportedly be fined about 150 million pounds.
Barclays’ Diamond Deserves No Bonus: Shareholder Group
Bob Diamond, the chief executive of Barclays, should not receive a bonus, and perhaps instead should be considered for a pay clawback, according to a shareholder advisory group.
RBS Talks Sale With Abu Dhabi Royals
The Abu Dhabi ruling family is in talks to purchase a stake in the government-owned Royal Bank of Scotland, according to sources close to both sides of the potential deal.
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...
Hungary Fails to Reach Bond Auction Target
Hungary’s financial situation has been steadily worsening, and after its Thursday bond auction failed to raise as much money as it had hoped, it now says it wants a fast deal with the European Union and the International Monetary Fund.
Will European Banks Be Forced to Unload U.S. Assets?
The report's authors cite Dutch banking giant ING Groep’s pending sale of its U.S. banking franchise ING Direct to McLean, Va.-based Capital One Financial Corp as a paradigm for such asset sales, since European regulators forced ING to restructure.