LIBOR set interest rates for trillions of dollars in loans for over 30 years. Banks manipulated the rate because it relied on estimates rather than real transactions. A new system called SOFR replaced ...

— -- A new scandal in the banking industry is undermining its image, already tarnished by rogue trading at JPMorganChase and the 2008 subprime mortgage collapse. At the heart of the scandal: ...

It took more than a decade but Libor, the benchmark borrowing rate at the heart of a rigging scandal that blew up in the early 2010s, is now officially no more. A Libor rate was used for the last time ...

LONDON (Reuters) - Standard Chartered won its bid in a London court on Tuesday to replace the financial benchmark it used to set dividend rates for some shares, which the bank said provided "clarity" ...

Tom Hayes, the first trader ever jailed for interest rate rigging, had his conviction overturned by Britain’s top court Wednesday after a years-long fight to clear his name. The UK Supreme Court ...

A Bloomberg spokesperson said the discontinuation of BSBY, which lagged in the race to succeed the defunct Libor rate, was the result of the "limited" commercial opportunities. Bloomberg L.P. says ...

Britain's NatWest Group has kicked off a campaign encouraging customers to dump the discredited Libor lending rate, as the coronavirus pandemic slows the pace at which borrowers are shifting to ...

LONDON (AP) — British police arrested three people Tuesday as part of their investigation into the manipulation of a key benchmark interest rate — the first British arrests in a scandal that’s had ...

Markets must prepare for announcements that the Libor interest rate benchmark will cease at the end of 2021, Britain's Financial Conduct Authority said on Wednesday.