Interbank Rates | InvestmentWatch

Singapore Punishes 20 Banks in Rate Probe

by Brooke Masters, GATA:

Dear Friend of GATA and Gold:

Singapore authorities have disciplined 20 banks after finding that 133 traders attempted to manipulate three kinds of interest rate and foreign exchange rate benchmarks, in a dramatic expansion of the global rate-rigging probe.

Royal Bank of Scotland, UBS, and ING were singled out for the toughest punishment by the Monetary Authority of Singapore, which said it took into account the number of traders involved [...]

Could Higher Yields Spark The Next Financial Crisis?

Bonds – Danger – high yields ahead

Could higher yields spark the next financial crisis? Reuters Breakingviews says they just might.

Treasury Bond Funds Just Had Their Worst Week Ever

Record outflows.

Below is a complete breakdown of this week’s fund flows, via BofA Merrill Lynch Chief Investment Strategist Michael Hartnett:

Flows by Asset Class

Bonds: massive $12.5bn redemptions (second largest weekly outflows on record; record was back in Oct’08)

Equities: $6.2bn outflows (largest in 2013)

Precious metals: $1.6bn outflows [...]

US Senate committee to question Geithner, Bernanke on London interbank offered rate scandal – @BloombergNews

The Senate Banking Committee will question U.S. Treasury Secretary Timothy F. Geithner and Federal Reserve Chairman Ben S. Bernanke on the scandal surrounding the London interbank offered rate.

Committee Chairman Tim Johnson said in a statement that he will question Geithner and Bernanke at regularly scheduled hearings this month. Geithner is set to testify before the banking committee on the Dodd-Frank financial overhaul act, while Bernanke will deliver his semi-annual monetary policy report. Johnson didn’t say whether he would [...]

The World’s Biggst Bank Just Got Thrown Into The Lieborgate Mess

When on Friday news broke that German regulator BAFIN (which is just like the SEC except that it also regulates, investigates and actually prosecutes, instead of just watching porn all day) was launching a probe of the biggest bank in Europe, and actually, make that the world, Germany’s Deutsche Bank, the shares took a quick, brisk hit, sliding 5% with everyone anxiously expecting to find out just which bank will follow Barclays into the [...]

Two Deutsche Bank (DB) employees have been suspended after an external audit into whether its traders were involved with manipulating Libor, reports Der Spiegel.

(Reuters) – Two Deutsche Bank (DBKGn.DE) employees have been suspended after it used external auditors to examine whether staff were involved in manipulating interbank lending rates, German magazine Der Spiegel reported, citing no sources.

A spokesman for Deutsche Bank on Sunday declined to comment on the article, referring to its quarterly report, which said it has received subpoenas and requests for information from U.S. and European authorities in connection with setting [...]

BoE’s Tucker Preparing To Self-Immolate… And Take Others Down

Paul Tucker, the Bank of England executive at the center of the Barclays/Diamond trigger-conversation, has issued a statement requesting a Treasury hearing to show his “keenness to clarify the position with regard to the events” of that hanging chad of a phone-call. What is most troublesome (for every major banker and politician) is his apparent willingness to take more down with him. As the M.A.D. escalates, MNI reports that minutes from 2007 show Tucker (who was/is [...]

InvestmentWatch

Singapore Punishes 20 Banks in Rate Probe

Could Higher Yields Spark The Next Financial Crisis?

US Senate committee to question Geithner, Bernanke on London interbank offered rate scandal – @BloombergNews

The World’s Biggst Bank Just Got Thrown Into The Lieborgate Mess

Two Deutsche Bank (DB) employees have been suspended after an external audit into whether its traders were involved with manipulating Libor, reports Der Spiegel.

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