Last month, U.S. District Judge Naomi Reice Buchwald in
Manhattan threw out a "substantial portion" of the proposed lawsuits
alleging wrongdoing by banks in connection with the London interbank offered
rate, known as the LIBOR. Among the legal actions torpedoed by the judge's
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...
NEW HAVEN, Conn. — (Mealey’s) UBS Securities Japan Co. Ltd. will pay a $100 million fine as part of a plea agreement with the U.S. government to end a criminal suit alleging that UBS Japan illegally manipulated the London Interbank Offered Rate (Libor), according to court documents filed...