To get information on financial and banking systems, opening a free checking account, the regulation of the banking sector about the best money market accounts, information on reverse mortgage, reverse mortgage brokers, reverse mortgage interest rates, as well a list of the main banking institutions working in a given country, please select the name of the country of your interest.
Tuesday, July 10, 2012
Monday, July 9, 2012
Friday, July 6, 2012
Barclays the euro salvage plan, the real tragedy of the scandal is the apparent lack of ethics!
You might have missed the latest bank scandal, the one involving Barclays (BCS), in the hubbub of the U.S. health-care ruling and the euro salvage plan. If so, here’s what you need to know: On June 27, Barclays, the U.K.’s second-largest bank by assets, admitted that it deliberately reported artificial borrowing costs from 2005 to 2009. The false reports were used to set a benchmark rate, the London interbank offered rate, or Libor, which affects the value of trillions of dollars of derivatives contracts, mortgages, and consumer loans. The bank agreed to pay a hefty $455 million to settle charges with U.S. and U.K. regulators, and on July 2, Chairman Marcus Agius resigned.
Subscribe to:
Posts (Atom)