LONDON (Reuters) - On June 30, British bank NatWest sent out an arcane-sounding press release - bus operator National Express had become the first company to take out a loan based on Sonia, a ...

Banks transitioned to using the Secured Overnight Financing Rates benchmark after LIBOR was phased out in the wake of a manipulation scandal.

The London interbank offered rate is coming to an end. New U.S. dollar Libor issuance will come to a halt at the end of this year, and critically for legacy contracts, USD Libor rates will cease to be ...

It’s time to stop “postponement syndrome” over the expiration of the London interbank offered rate. There can be no more stalling. In March, Federal Reserve Vice Chair for Supervision Randal Quarles ...

Financial institutions are preparing for the phase-out of the London Interbank Offered Rate (LIBOR), the most widely used short-term lending benchmark in the world. It’s a complicated regulatory issue ...

Matt Levine at Dealbreaker points out something that I had never quite realized: A lot of smart people believed that Libor was the risk-free rate of interest. The Libor scandal has always puzzled me ...

About the authors: J. Christopher Giancarlo served as chairman of the U.S. Commodity Futures Trading Commission. He was previously an independent director of the American Financial Exchange, the ...

The term Libor has been thrown around plenty over the last couple of weeks thanks to yet another scandal ripping through the banking industry. Consider that the 2008 financial crisis, a crisis that ...

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

Financial institutions and other industries globally are working to replace the London Interbank Offered Rate (LIBOR). By the end of 2021, LIBOR is expected to be phased out, which necessitates ...

This week’s Bloomberg Businessweek cover story is about Tom Hayes, a British trader convicted of manipulating Libor. The London Interbank Offered Rate is a global benchmark for the cost of borrowing.

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 ...