Hints and tips:
...small-capbusinesses and investors in the UK and beyond,” Diamond said in a statement.Ricci was one of Diamond’s key lieutenants at Barclays until both men stepped down in the wake of the bank’s £290mn Libor-rigging...
...the pinnacle of British finance, serving respectively as chief executive and boss of corporate and investment banking at Barclays.Since leaving the lender more than a decade ago in the wake of a £290mn Libor-rigging...
...All that said, we’ll let you know how Alphaville gets on in securing a $50mn credit line at 500 bps above LIBOR. *Ugh, it was Jon Gray who called it a golden moment, not Marc Rowan....
...Neither of the traders was responsible for submitting Deutsche’s Libor fixes to the BBA. They were found guilty in October 2018 on charges of wire fraud and conspiracy to commit wire and bank fraud....
...Most of the problems are concentrated elsewhere and often due to external factors, according to Itaú BBA analyst Thiago Macruz. “What is the challenge here?...
...The next question springs naturally to the minds of conspiracy theorists who remember Libor rate-rigging: are quoted prices accurate? The answer is yes and no....
...In 2013, the BBA adopted a “LIBOR Code of Conduct” for “Contributing Banks” limiting the permissible exchange of LIBOR-relevant information between submitters and traders (“BBA 2013 Code”)....
...Neither of the traders was responsible for submitting Deutsche’s Libor fixes to the BBA....
...Spac’s shareholders give it more time to clinch a deal (FT) Elon Musk postpones Twitter Blue relaunch (FT) Enel seeks to slash debt with €21bn asset sale (FT) Exonerated trader sues Deutsche Bank over Libor...
...The UK Big Four lenders have all rejected using artificial intelligence for managing Libor transition, he said, adding: “It has been bad for our sales people’s morale.”...
...This includes an $8bn shareholder loan, which accrues interest at Libor plus 6.5 per cent....
...Some officials believe they will never see a payment from the mine unless the interest rate on loans — Libor plus 6.5 per cent — is reduced....
...BBA Aviation, which controls the largest network of private jet fuel stops in the US, has announced streamlining of its own....
...She is a non-executive director at Standard Chartered, Itaú BBA International and ConocoPhillips....
...Briefly National Express has helped new interest rate benchmark Sonia get going, becoming the first company to take a loan priced using the Libor replacement....
...It also charged interest of 9 per cent plus the six-month Libor rate on a shareholder loan, though this has accrued and was not paid....
...The spread above Libor for the highest-rated debt tranches of new CLOs has risen above 130 basis points for the first time since the middle of 2017, according to data from LCD, a division of S&P Global....
...Investors refused to bite when JPMorgan first started marketing the deal at 99.5 cents on the dollar with a yield 4.75 percentage points above Libor....
...The document showed ITAÚ BBA, JPMorgan and Santander had won mandates to lead the IPO and that Bunge would not offer any new shares as part of the stock market listing....
...The spread between Libor and the “overnight index swap” rate, a gauge for the future expected level of the Fed’s base interest rates, is another popular measure of stresses in the banking sector....
...A $136m bond will have an interest rate of 8 per cent above the three month Libor rate for six years, Bacanora said....
...Asic had sought to prove all four banks, including Westpac rigged the BBSW – Australia’s equivalent to Libor which is used to price a range of financial products – to generate profits....
...when it sold Libor swaps that it was not and did not intend to manipulate the Libor rate....
...The Jersey-registered £153m trust, Invesco Perpetual Enhanced Income Ltd, received a requisition order late on Monday on behalf of Invesco Perpetual, a fund of Swiss asset manager GAM and Practical Investment...
...Together with the Libor scandal, it caused Mervyn King, Bank of England governor, to apply pressure to the board to fire Diamond....
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