LIBOR set interest rates for trillions of dollars in loans for over 30 years. Banks manipulated the rate because it relied on estimates rather than real transactions. A new system called SOFR replaced ...

Our Financial Services & Products Group discusses the status of the financial industry’s transition away from LIBOR, including the final rule identifying replacement benchmarks that was recently ...

— -- A new scandal in the banking industry is undermining its image, already tarnished by rogue trading at JPMorganChase and the 2008 subprime mortgage collapse. At the heart of the scandal: ...

Libor is calculated for multiple terms each day by the British Bankers’ Association based on submissions received from 16 global banks. The four highest and the four lowest submissions are disregarded ...

For half a century the series of interest rates known collectively as the London interbank offered rate, or Libor, has helped determine the cost of all sorts of borrowing around the world. But over ...

Opinions expressed by Entrepreneur contributors are their own. For many years, LIBOR, or the London Inter-Bank Offered Rate, served as a globally accepted benchmark, deriving rates from the U.S.

NEW YORK--(BUSINESS WIRE)--The UK Financial Conduct Authority announced that the three-month USD LIBOR settings will either cease publication or no longer be representative after June 30, 2023. UBS AG ...