Tags: Autos, Banks, Barack Obama, Ben Bernanke, Euro, Fed, Greece, Interest Rates, Politics, SEC, Short selling, Spain, Toyota
Tags: Bank of America, Bernie Madoff, China, Galleon, Goldman Sachs, Hedge funds, Insider Trading, Interest Rates, Raj Rajaratnam, SEC, Tax Fraud, Toyota
Tags: AIG, Allen Stanford, Ben Bernanke, Bonuses, Fed, Fortress, Galleon, Hedge funds, Interest Rates, jobs, John Paulson, Microsoft, Moody's, Politics, Raj Rajaratnam, Tim Geithner, Trademarks, U.S. Treasury, Warren Buffett
Tags: Autos, Barack Obama, Bernie Madoff, Delphi, Deutsche Bank, Goldman Sachs, Health Care, Interest Rates, JP Morgan, Mortgage meltdown, Politics, Yahoo
Tags: AIG, CDS, Goldman Sachs, Interest Rates, Jerome Kerviel, Nomura, Politics, Rogus Traders, SEC, Short selling, UBS
The rate dropped more than half a basis point to 99 basis points today, the British Bankers’ Association said, the lowest since the trade group began compiling the data in January 2001. The three-month pound overnight index swap rate, which shows traders’ expectations for the central bank’s key rate, fell four basis points to 54 basis points, from 72 basis points a week ago.
Libor for Pounds Falls Below 1% for First Time on BOE Rate Bets – Bloomberg
Tags: Interest Rates
Tags: Charts, Credit Crunch, Interest Rates
Tags: Charts, Credit Crunch, Interest Rates
Tags: Charts, Credit Crunch, Interest Rates
Here’s the text of the FOMC statement
Tags: Credit Crunch, Fed, Interest Rates
The London Interbank offered rate, better known as LIBOR, is being questioned this morning. The rate, which is an average of rates supplied by many of the largest banks, might actually be higher than what’s actually being quoted. That’s great for borrowers, but not so great for lenders. The issue: are all banks submitting LIBOR rates that reflect their true borrowing costs? Or are some fudging them and submitting lower numbers in a face saving move so that the world won’t know what their real borrowing rates are if they’re in fact much higher? The Wall Street Journal poses that question this morning…
In a development that has implications for
borrowers everywhere, from Russian oil producers to homeowners in Detroit,
bankers and traders are expressing concerns that the London inter-bank offered
rate, known as Libor, is becoming unreliable.Libor plays a crucial role in the global
financial system. Calculated every morning in London from information supplied
by banks all over the world, it’s a measure of the average interest rate at
which banks make short-term loans to one another. Libor provides a key indicator
of their health, rising when banks are in trouble. Its influence extends far
beyond banking: The interest rates on trillions of dollars in corporate debt,
home mortgages and financial contracts reset according to Libor.
Tags: Banks, Interest Rates
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