Give UBS credit for bravely launching a major ad campaign when antipathy toward big banks is as strong as ever. The ads pose deeply personal questions in a bid to put UBS in the middle of an individual’s most critical dialogue. But will people let UBS inside?
Martin Wheatley of the UK’s Financial Services Authority on Friday announced plans to overhaul Libor, which has been at the center of a rate-fixing scandal involving Barclays and other major banks. Wheatley called for significant changes in the way Libor is set, and encouraged reform of other commonly used benchmarks with similar weaknesses – something […]
In the wake of the Libor-rigging scandal, U.S. regulators are looking at how a key benchmark rate in the $3 trillion U.S. municipal bond market is determined. Maybe regulators read the RiskMatters blog?
Perhaps the only thing more surprising than the LIBOR rate-fixing scandal that engulfed Barclays last week is the method by which the rate is set. For more than four decades, the benchmark interest rate has been set by a group of banks, based on voluntary declarations of each bank’s borrowing cost, not actual trades. But […]