Despite the lack of commentary from either the White House or federal executive agencies, the Standard Chartered investigation – and the manner in which it was handled – is certain to reignite the festering feud over how to regulate finance. Absent the p
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Freddie Mac sues more than a dozen banks over Libor
NEW YORK: Mortgage finance company Freddie Mac is suing more than a dozen banks for losses from the alleged manipulation of the benchmark interest rate known as Libor. Freddie Mac, which invested in mortgage bonds and swaps tied to U.S. dollar Libor, cla
CFTC Wants To Fix The London Gold Fix
So is the London gold fix a fix? U.S. derivatives-market regulators think it might be. What is the London gold fix, and why does it exist? The fixing exists because, in the physical bullion market, there isn’t any single price at any one time. Instead, a
Central banks want Libor replaced with several rates
LONDON, March 18 (Reuters) - The tarnished Libor interest rate benchmark should be replaced with a range of reference rates based on actual market transactions by banks, a global group of central bankers said on Monday. Barclays, Royal Bank of Scotland (
The Sheriff Who Shot Himself, 5 Years Later
New York Gov. Eliot Spitzer, joined by his wife Silda, makes a statement to reporters during a news conference on March 10, 2008 apologizing to his family and the public. Five years ago today, the governor of New York admitted he was Client 9, the repeat
ARM Rates
Index This Week Last Week Year Ago 6-month CD 0.42 0.43 0.51 6-month T-bill 0.115 0.120 0.145 1-month Libor 0.20 0.20 0.24 6-month Libor 0.45 0.46 0.74 1-year TCMS 0.15 0.17 0.18 5-year TCMS 0.82 0.77 0.87 Index This Week Last Month Year Ago WSJ Prime Ra
CFTC is considering investigating 'London gold fixing' for price manipulations
Sources from the CFTC told the journalists from the Wall Street Journal that there is an “internal discussion” in the CFTC regarding the possibilities of manipulation of the daily setting of gold and silver prices in London. During the last several years