ISDAfix Swap Rate Manipulation - Q&A The ISDAfix Benchmark Swap Rate Manipulation lawsuit involves 13 banks, all sued by Alaska Electrical Pension Board (AEPB) and other plaintiffs. The banks named are: Bank of America, Barclays, BNP Paribas, Citibank, Credit Suisse, Deutschebank, Goldman Sachs, Royal Bank of...
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After 7 years of preparation, the UK courts are bringing individuals to trial as the LIBOR scandal heads to court. SUSPICIOUS DEATHS & SUICIDES You may recall during 4Q13 and 1Q14 when 12 bankers committed suicide. The stories are as varied as they are sordid. The media...
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WHAT’S THE DIFFERENCE BETWEEN FINANCIAL SERVICE COMPANIES? When I consider the FSOC’s SIFI Designation for non-banks, I'm reminded of two things – the difference between banks & insurance companies, and the joke: “Do you know the difference between an elephant and a dozen eggs?” “No, what’s the difference?” "Well,...
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SIFI DESIGNATION FOR NON-BANK FINANCIAL COMPANIES The Financial Stability Oversight Council (FSOC) approves the non-bank financial institutions viewed as Significantly Important Financial institutions (SIFIs). SIFI Designation requires all eight regulators: OCC, FDIC, CFPB, FHFA, FRB, NCUA, CFTC & SEC, one independent member with insurance expertise, and...
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