alykhansatchu
Yeah. Why?
The quality of a financial mechanism should be determined by its superiority over alternatives not by monopolizing it..LIBOR should have had an alternative from way back, the transition and departure from it would not be so scary now
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The end of LIBORLIBOR, which has been called the world's most important number, is being phased out The most important number in finance is going away ,Wall Street isn't prepared. The Financial Conduct Authority (FCA) of the United Kingdom plans to phase out LIBOR by the end of 2021. SONIA set to replace LIBOR by 2021.
Source: TheEconomist - 🏆 6. / 92 Read more »
A scramble to replace LIBOR is under wayScandal and rickety economics have undermined the benchmark interest rate
Source: TheEconomist - 🏆 6. / 92 Read more »
Breakdown: Libor habit is hard and costly to kickOver $300 trillion of financial contracts are linked to discredited benchmark interest rates. Switching to new ones could disrupt economies as well as markets. It will take a lot of money, time, and willingness to reconcile conflicting interests to avoid bad withdrawal symptoms.
Source: Breakingviews - 🏆 470. / 51 Read more »
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Source: Breakingviews - 🏆 470. / 51 Read more »
Rising Libor Troubles Fragile MarketsShort-term interest rates are rising again, making it costlier for investors and businesses to borrow when financial markets already are on edge.
Source: WSJ - 🏆 98. / 63 Read more »
Bloomberg - Are you a robot?jimcramer GoldmanSachs WSJ Hmm...
Source: Bloomberg - 🏆 97. / 63 Read more »
UBS to Pay $68 million to Settle State Libor-Manipulation ClaimsUBS will pay $68 million to end state investigations into alleged manipulation of a key lending benchmark that was considered one of the most important barometers of the world’s financial health. We can buy anything? But this page will reply. Time and time again. How's your subscriber count doing? Greetings and a jolly Xmas to you! Have fun:
Source: WSJ - 🏆 98. / 63 Read more »
Obituary: Versatile Greek Banker Helped Create LiborMinos Zombanakis, who died Dec. 22 at the age of 92, was a pioneer in the Euromarkets, a means of tapping the billions of dollars and other currencies held outside their countries of origin. FakeMath I just bought big bag $ONION DeepOnion and i think this is next big thing. Check out GetDeepOnion = privacy + blockchain protection
Source: WSJ - 🏆 98. / 63 Read more »
UK watchdog says Libor 'end game' may be uncertainThe 'end-game' for the Libor interest rate benchmark will be uncertain...
Source: Reuters - 🏆 2. / 97 Read more »
Here's what will happen after the death of the magical number underpinning $350 trillion in tradesLibor, crucial to the credit-based economy and to trillions in derivatives, is due to die by the end of 2021. Now comes the hard part.
Source: BusinessInsider - 🏆 729. / 51 Read more »