Posts Tagged:Swaps

First Libor-Based Swap Case Filed in UK

Reuters reports that Guardian Care Homes is suing Barclays over Libor-based interest rate swaps.  (Reuters)  Although it is a small claim of $59 million, it has big implications and will be watched carefully. The article has one staggering fact: Britain’s financial regulator has estimated that about 44,000 interest rate swaps have been wrongly sold to…

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Libor Liability Estimate Update: $6 billion

The latest liability estimate for the Libor scandal is in at $6 billion for municipal bonds, writes Darrell Preston of Bloomberg.  (Bloomberg)  The estimate comes from Swap Financial Group.  The size of the muni swap market is estimated to be about $500 billion, so the $6 billion estimate comes in at 1.2 percent.

LIBOR-Based Swaps Estimated to be $250 Trillion

The Guardian has an article which estimates LIBOR-based swaps to be $250 trillion – which is a lot of illions.  You can find the article here.  Writer Alix Bailin does a nice job describing the LIBOR setting process, which is remarkably like the Keynesian beauty contest.  Here you go: The process for ascertaining Libor is…

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CNBC Interview with Janet Cowell, NC State Treasurer, on LIBOR Swaps

Here’s the link to the CNBC video. Madame Cowell thinks the LIBOR settlement could be bigger than the mortgage settlements.

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