Among some of the key measures that will curb manipulation of the system include daily publication of the previous day’s rates, and banks are required to report activities of the interbank foreign currency market to the central bank that shall closely monitor the foreign currency trades on a da...
New York Attorney General Barbara Underwood announced a $68M 40-state settlement, with UBS for "fraudulent conduct involving the manipulation" of LIBOR, the London Interbank Offered Rate. LIBOR is a benchmark interest rate that affects financial instruments "worth trillions of dollars and has a fa...
To prevent manipulation, the SOFR was designed by the Federal Reserve to be based on actual transactions in the repo market on the previous business day rather than on opinions. SOFR is published weekdaily by the Federal Reserve Bank of New York and reflects the cost of overnight borrowing ...
To prevent manipulation, the SOFR was designed by the Federal Reserve to be based on actual transactions in the repo market on the previous business day rather than on opinions. SOFR is published weekdaily by the Federal Reserve Bank of New York and reflects the cost of overnight borrowing ...