Libor

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

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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.

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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.

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Citigroup insider trading leak alleged; Square works to reduce receipt snafus

06/04/19

Employee may have leaked information about upcoming deals; company says it’s rare that the wrong person gets email receipt, but it's looking to improve.

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Transition from Libor to new benchmark should begin now: Fed’s Quarles

06/03/19

Although Libor will will not be phased out until at least 2021, Randal Quarles said making the switch early is "consistent with prudent risk management."

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The Libor Scandal: What’s Next?

05/31/13

By Evan Sypek

The London Interbank Offered Rate (Libor) is calculated daily by the British Banking Association (BBA) and published by Thomson Reuters. The rates are calculated by surveying the interbank borrowing costs of a panel of banks and averaging them to create an index of 15 separate Libor rates for different maturities (ranging from overnight to one year) and currencies. The Libor rate is used to calculate interest rates in an estimated $350 trillion worth of transactions worldwide.

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