Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Timothy Li is a consultant, accountant, and finance manager with an MBA from USC and over 15 ...

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 ...

The well-publicized sunset of the London Interbank Offered Rate (LIBOR), the adjustable interest rate benchmark referenced in trillions of dollars' worth of contracts, is happening this summer. After ...

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 ...

As of December 31, 2021 (the “Effective Date”), the use of LIBOR as an index for commercial and consumer loans will likely cease—which presents lenders and other industry participants with the ...

Whether it’s the side of the road we drive on, our preferred system of measurement or how we define “football,” America always seems to distinguish itself from Britain. Despite this, American lenders ...

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 ...

Two years ago, a major scandal rocked the world after it was revealed that big international banks had long been manipulating the Libor interest rates to fraudulently boost their profits. As ...

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.

See more of our trusted coverage when you search. Prefer Newsweek on Google to see more of our trusted coverage when you search. Former Citigroup and UBS trader Tom Hayes has become the first person ...

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 ...