Tag: London Interbank Offered Rate (Libor)

• Saturday, January 30th 2016 - 12:21 UTC

  Argentina seals US$ 5 billion deal with international banks at Libor plus 6.5 points

  

  Argentina's central bank said on Friday it had sealed a deal for a US$5 billion, one-year loan from international private banks, bolstering its low foreign reserves as the country heads into talks with creditors suing over unpaid debt. Argentina has been shut out of global credit markets because of its long-running legal dispute in U.S. courts with creditors over debt it defaulted on in 2002.

• Friday, November 6th 2015 - 08:57 UTC

  Two British bankers convicted in the US for manipulation of the Libor rate

  

  Two British bankers have been convicted by a New York jury of manipulating inter-bank lending rates. Anthony Allen and Anthony Conti were charged with conspiracy to commit wire and bank fraud and committing wire fraud, by misreporting the London interbank offered rate (Libor) as it related to the US dollar. Both worked for Dutch lender Rabobank.

• Tuesday, August 4th 2015 - 05:13 UTC

  Libor rate rigging: ex trader sentenced to 14 years in jail by London court

  

  Ex-trader Tom Hayes was sentenced to 14 years in jail by a London court on Monday after being found guilty of conspiring to rig Libor benchmark interest rates following a seven-year global investigation.

• Thursday, May 28th 2015 - 06:24 UTC

  Libor rate rigging trial reveals “scratch my back, I'll scratch yours” dealings among traders

  

  The trader at the centre of the Libor rate-rigging trial tried to influence other banks to manipulate the key benchmark rate to suit his own trading positions, a jury at Southwark Crown Court has heard. Tom Hayes allegedly told one trader that he had managed to keep the three-month Libor rate “artificially high”.

• Friday, April 24th 2015 - 08:25 UTC

  Deutsche Bank agrees to pay 2.5bn fine for manipulating the LIBOR rate

  

  The New York State Department of Financial Services (NYDFS) announced Thursday that Deutsche Bank had agreed to pay 2.5 billion (2.3 billion Euros) to US and UK authorities as part of a legal settlement over the bank's role in manipulating the London Interbank Offered Rate (Libor).