Libor

Amex's immigrant assist, the Libor void, bank failures: Top stories of the week

11/01/19

New tech lets American Express instantly issue cards to immigrants; the end of Libor raises concerns about financial stability; regulators shutter banks in Kentucky and Ohio; and more from this week's most-read stories.

[more]

Is the end of Libor a threat to financial stability?

10/27/19

Concerns over banks’ level of preparation have led to worries about disruptions in the lending market, and some financial institutions warn that a new interest rate benchmark could cause lenders to pull back on credit.

[more]

Regional banks sound alarm over new interest rate benchmark

10/16/19

Executives sent a letter to the federal banking regulators last month expressing concern that an alternative to the London interbank offered rate could limit credit availability.

[more]

Next step in Libra battle; bank stock rally fizzles

10/10/19

Facebook CEO to face a skeptical House panel on Oct. 23; bank stocks have given up last month’s gains as investors await earnings season.

[more]

Red flags worrying lawmakers 11 years after financial crisis

09/25/19

Members of the House Financial Services Committee cited leveraged lending, cybersecurity and the switch to a new interest rate benchmark among potential systemic risks that keep them up at night.

[more]

Libor is ending. We aren't ready

09/12/19

The most widely referenced interest rate benchmark will cease to function after 2021, and the financial system is still coming to grips with that complicated reality.

[more]

UBS shuffles top management; Treasury issues Libor tax guidance

08/30/19

The bank elevated three senior executives who could be possible successors to CEO Sergio Ermotti; the move to a new rate benchmark won’t trigger a “tax event.”

[more]

Trump warns on Libra; Lenders retreat on farm loans

07/12/19

President says Facebook could face “full banking regulation”; big banks’ farm loan portfolios have shrunk more than 17% since 2015

[more]

Fed working group proposes SOFR-based mortgage by 2021

07/11/19

The Alternative Reference Rates Committee promotes the adoption of a new Secured Overnight Financing Rate index rate to replace Libor in pricing hybrid adjustable-rate mortgages within the next two years. The change would be the first application of SOFR to a consumer-loan product.

[more]

Losing Libor will be messy

06/04/19

The banking industry isn’t prepared to transition away from a key financial benchmark in 2021, and steps need to be taken now to avoid market disruptions.

[more]