by Banker & Tradesman | Aug 21, 2022
Some contracts that rely on LIBOR need a replacement rate by the time LIBOR goes away next year, but are tough or impossible to modify. Fortunately, there’s a solution that requires little effort.
by Christopher R. Vaccaro | Dec 26, 2021
The London Interbank Offered Rate was a widely accepted benchmark interest rate among financial institutions for over 40 years. One worldwide scandal and a handful of years later, it’s set to start expiring in a few days.
by Banker & Tradesman | Nov 7, 2021
At Brookline Bank, our strategy for the transition has been similar to the preparation for Y2K: So far it is going smoothly, but not without an enormous amount of planning and cross-departmental teamwork.
by Lew Sichelman | Jul 7, 2019
Sellers who can’t decide whether to move into their next homes while their current ones remain unsold should consider this: According to a new analysis, empty houses remain on the market longer, and sell for less, than those that are still occupied.
by Banker & Tradesman | Dec 30, 2018
Imagine you sign a contract and later learn that one of its key financial underpinnings will be replaced by something unknowable. That is the reality if you enter into a financial transaction involving the London Interbank Offered Rate, or LIBOR.
by Banker & Tradesman | Oct 22, 2017
Commercial real estate owners looking to hedge interest rate risk are often asked to purchase derivatives and other financial products blindly.
by Bram Berkowitz | Aug 27, 2017
The recent decision to phase out the London Interbank Offered Rate has left banks that issue adjustable rate mortgages tied to the benchmark with plenty of uncertainty. Banker & Tradesman spoke with several community banks in Massachusetts that have issued a significant number of ARMs in recent years, according to data compiled by The Warren Group.
by Reuters | Aug 25, 2017
U.S. authorities have charged two managers at French bank Societe Generale with taking part in a scheme to manipulate the global U.S. dollar Libor benchmark interest rate.
by Banker & Tradesman | Aug 9, 2016
Barclays Bank and Barclays Capital this week announced it would pay $100 million to settle with 44 states over its manipulation of interest rates.