The year that transformed Britain’s LOBO landscape

12 July 2019Municipal FinanceLOBOs, Newham council, RBSNick Dunbar

Gauging the significance of the LOBO redemption wave

ICAP, the half-way house on the road to Libor reckoning

27 September 2013Banks, MarketsICAP, interest rate benchmarks, litigation, operational risk, RBS, regulation, UBSNick Dunbar

What are we to learn from the charges that came out against interdealer broker ICAP and its staff over the manipulation of Libor rates? In three separate regulatory complaints, from the UK Financial Conduct Authority, US Commodity Futures Trading Commission and Department of Justice, once again we read emails and chat logs outlining intent to…

Quantitative Easing, Interest-Rate Derivatives: A Toxic Combination

17 May 2013Banks, Commentderivatives, interest rate risk, litigation, municipal finance, RBSNick Dunbar

Quantitative easing has resulted in collateral damage. Municipalities, public-owned entities and small companies have been damaged as a result of derivatives contracts that locked them into paying high interest rates before the full effect of QE became apparent. Investment banks that sold such contracts have been accused of mis-selling them, lawsuits are winding their way…

A week in banking: what have we learned?

2 July 2012Articles, Banksbanking, Barclays, derivatives, interest rate benchmarks, JP Morgan, RBS, regulationNick Dunbar

In the last week, we saw major developments in two big scandals - Libor rigging and swap mis-selling in the UK - and the end of the second quarter which is likely to draw a line under a third big scandal - the 'London Whale' losses at JP Morgan. I have some thoughts about these…