Euribor To Start Much-Awaited Changes in May To Attract More Banks LeapRate

March 06, 2024 BY Simon Mugo

Euribor To Start Much-Awaited Changes in May To Attract More Banks

The reputation of interbank rates like Euribor's counterpart, Libor, suffered greatly due to manipulation scandals. This led to Libor's discontinuation and its replacement by overnight rates determined by central banks such as the Federal Reserve, European Central Bank, and Bank of England. The Euro Interbank Offered Rate overhaul, or Euribor, seeks to lessen the workload…

July 13, 2018 BY Valentina Kirilova

Barclays and Deutsche Bank's former bankers convicted of fraud in EURIBOR manipulation case

Two former senior bankers have been convicted for manipulating the Euro Interbank Offered Rate (EURIBOR) at the height of the financial crisis following an investigation and prosecution brought by the Serious Fraud Office. Phillipe Moryoussef, formerly of Barclays Bank, was found guilty on 29th June 2018 by a jury. The conviction follows a guilty plea…

December 07, 2016 BY Valentina Kirilova

JPMorgan, HSBC and Credit Agricole fined more than $500 million in Euribor rigging scandal

It's been less than a month since JPMorgan Chase & Co.(NYSE:JPM)'s last $264 million SEC fine for corrupt hiring practices in Asia-Pacific region. Now JPMorgan's back in action, along with HSBC Holdings Plc (NYSE:HSBC) and Credit Agricole SA with a fine of a total of 485.5 million euros ($521 million) for rigging the Euribor benchmark as…

December 22, 2015 BY Maria Nikolova

SFO includes Societe Generale's Stephane Esper in EURIBOR investigation list

The UK Serious Fraud Office (SFO) continues its investigation into Euro Interbank Offered Rate (EURIBOR) manipulation. On Monday, the SFO published a brief update, stating that former Societe Generale SA (EPA:GLE) employee Stephane Esper was included in the list of individuals to stand trial over alleged EURIBOR manipulation. Mr Esper will make his first appearance…

November 13, 2015 BY Maria Nikolova

UK's SFO charges 10 individuals at Barclays, Deutsche Bank with EURIBOR manipulation

The UK's Serious Fraud Office (SFO) today issued the first criminal proceedings related to EURIBOR manipulation against 10 individuals working at Barclays PLC (LON:BARC) and Deutsche Bank AG (FRA:DBK) The individuals, 6 of whom are employees of Deutsche Bank, and 4 are employees of Barclays Bank, will be charged with conspiracy to defraud in connection…

April 23, 2015 BY Andrew Saks-McLeod

CFTC hits Deutsche Bank for largest fine in history, taking total penalty to $2.5 billion

The CFTC, FCA, US Department of Justice, and New York State Department of Financial Services have collectively issued their penalties to Deutsche Bank, with fines topping $2.5 billion

April 23, 2015 BY Andrew Saks-McLeod

Deutsche Bank fined £227 million by FCA for LIBOR EURIBOR failings

“Deutsche Bank’s failings were compounded by them repeatedly misleading us. The bank took far too long to produce vital documents and it moved far too slowly to fix relevant systems and controls" - Georgina Phillipou, Acting Director of Enforcement and Market Oversight, FCA

Tag: euribor