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 ...
CHARLOTTE, N.C., May 26, 2023 /PRNewswire/ -- Truist Financial Corporation (TFC) announced today that, after June 30, 2023, CME Term SOFR will be the replacement reference rate for certain outstanding ...
Tom Hayes, the former trader who became the face of the Libor scandal, won a last-ditch appeal to clear his name, undoing one of the most high-profile cases to emerge from the global financial crisis.
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