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Further LIBOR news:

(1) Mortgage giant Fannie Mae has joined the alleged LIBOR scandal by issuing proceedings against nine banks for alleged manipulation of rates. The sums sought are in excess of £800m against all banks, in excess of most recent settlements. The allegation is that Fannie Mae lost over £300m in interest rate swaps involving UK banks Barclays and RBS. The claim is founded on breach of contract and fiduciary duty.

Click here for articles featuring on BBC News and Bloomberg

(2) Citgroup is likely to settle its on going case concerning allegations of rigging the Yen Libor rates in return for a 10% discount on its fine from the European Union.

Click here for Bloomberg News article.


(3) Further allegations against Deutsche Bank – suggestion that the organisational structure of the company provided the perfect environment in which rate rigging could have occurred.

Click here for Reuters article. 

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news information

Date: 13/11/2013

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