Libor

Libor, the most important number in international finance, dies at 52

The interest benchmark once underpinned more than $300 trn in financial contracts but was undone after a year long market-rigging scandal came to light

LIBOR transition: SBI says ready to embrace new alternatives

The bank said it will spread awareness about the transition among customers and extensive client groups through curated knowledge sharing sessions

Libor walks into sunset on New Year's Eve, with $265 trn at stake

Libor is being switched off, ending its role pricing derivatives and loans ranging from mortgages and student loans to business funding and credit cards

DBS India completes maiden active loan switch ahead of LIBOR transition

In a bid to proactively adapt the new risk-free benchmarks on existing loans and derivatives, DBS Bank India has announced the first active transitioning of an existing loan and derivative to new reference rates.This is a key milestone for DBS and marks the bank's first active transition process in India - an integral part of the benchmark transition plan of the bank to ensure seamless adoption of new Alternative Reference Rates (ARR) as Interbank Offered Rates (IBORs) are phased out.DBS has successfully transitioned some of the existing loan and derivative contracts with two companies - Power Finance Corporation Ltd & REC Limited - to the new reference rates. Existing contracts were benchmarked to Swap Offer Rate (SOR) [a legacy SGD floating benchmarked IBOR], and post this transition, all loans and derivatives have now moved to Singapore Overnight Rate Average (SORA), the new risk-free rate.Speaking on the development, Ashhish Vaidya, Managing Director & Head of Markets,

Morgan Stanley's robots saved 50,000 hours of work, says report

Morgan Stanley figures it has saved legal staffers 50,000 hours of work and $10 million in attorney fees by using robot Libor lawyers instead of only the human kind

India power-sector financier REC plans first loan using Libor heir

The financier's choice of a SOFR-linked loan is part of a global push by policy makers to develop new benchmarks to replace Libor by the end of 2021

Libor shift: The bank plan to move to alternative reference rates explained

RBI to banks: Phase out Libor soon, move to alternative reference rates

However, lenders say they're not sure which alternative will be more reliable

A $27 trillion challenge looms as Yen Libor shift deadline nears

As the deadline nears, worries are mounting that the country could face a disorderly transition come year-end marred by technical problems, legal disputes and increased interbank rate volatility

Banks in India ready for transition, but the world still loves Libor

Libor era ends this year, and banks across the globe will have to shift to an alternative rate. Two popular choices available only have a few swap deals linked to them

FSDC deliberated on challenges in transition from Libor-based contracts

In a meeting, chaired by FM Sitharaman, it noted that a multi-pronged strategy involving relevant stakeholder institutions and departments is required in this regard

Banks, firms work on strategy for transition from LIBOR to new benchmark

Will be simple for loans, tricky for derivatives, say experts

The end of Libor: the biggest banking challenge you've never heard of

It was billed as the first switch of thousands that British firms would make by end-2021, when the benchmark is set to be decommissioned

The most important number in finance on its way out: All you need to know

Published daily, Libor is an interest rate benchmark, or the basis for many other interest rates

UK financial regulators suggest phasing out Libor rate benchmark from 2021

In 2021, second substitute benchmark will be used to measure bank credit risk & funding markets

India-born trader, two others, found guilty in Libor rigging trial

Kolkata-born, US-based Jay Merchant, the most senior of the men on trial, was convicted unanimously