LIBOR set interest rates for trillions of dollars in loans for over 30 years. Banks manipulated the rate because it relied on estimates rather than real transactions. A new system called SOFR replaced ...

— -- A new scandal in the banking industry is undermining its image, already tarnished by rogue trading at JPMorganChase and the 2008 subprime mortgage collapse. At the heart of the scandal: ...

The secured overnight financing rate (SOFR) is an important benchmark rate that reflects the average interest rate banks pay to take out secured loans in U.S. dollars overnight. The loans are secured ...

Aug 5 (Reuters) - Companies including chipmaker Avago Technologies and food product producer Pinnacle Foods are issuing leveraged loans without Libor floors as the key benchmark rate rises. Sign up ...

RIVERWOODS, Ill.--(BUSINESS WIRE)-- Discover Financial Services (NYSE: DFS) and Discover Bank (collectively “Discover”) have certain outstanding preferred stock and debt securities, listed in this ...