ISDAfix rates at the center of a U.S. price-manipulation probe, while often relegated to the fine print of regulatory filings, help determine everything from borrowing costs on bonds that finance skyscrapers to interest on annuities.
Companies seeking to protect against soaring interest rates in the $379 trillion swaps market rely on them to mark the value of trades. Banks use the rates in setting coupons paid for $550 billion of bonds tied to commercial real estate. Fluctuations help determine the performance of structured notes bought by wealthy individuals and the amounts some states pay on pension annuities.
After fining Barclays Plc, UBS AG and Royal Bank of Scotland Group Plc more than $2.5 billion over the past year for rigging the London interbank offered rate, a global benchmark for $300 trillion of securities, regulators are now expanding their examination into measures that, while obscure, hold as much sway in the workings of the world's financial system.
Continue Reading for Free
Register and gain access to:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.