The manipulation of the LIBOR can be broken down into three phases. What were these and how did they differ in terms of motivation and moral justification?
LIBOR stands for London Interbank Borrowing Rate. It is used as a benchmark to set payments on about $800 trillion worth of financial instruments around the globe. Three month Dollar LIBOR ,is supposed to indicate what a bank would pay to bowwow dollars for three months from other banks at 11am on the day it is set. The dollar rate is fixed each day by taking estimates from a panel comprising of 18 banks, of what they think would have to pat to borrow if they needed money. The top four and bottom four estimates are then discarded and LIBOR is the average of those left. The submissions of all the participants are published along with each day’s LIBOR fix.
The manipulation of LIBOR rate can be broadly classified into three phases –
So where is the Flaw?
Bets involving Eurodollar futures – which allow traders to take bets on how interest rates will move over certain time period - caused the submitters to alter the lending rates they reported. Typical contract size is of $1million and even one basis point change in the rate would favour Bank’s traders on their open position in three month forward interest rate swaps would help them milk good profits. And hence Traders would request the submitters to rig the rate.
The primary reason for such manipulation was " greed " since higher profits for the banks would lead to more bonuses and incentive for the bank management. The pressure to show higher profit on Quarter on Quarter basis and rising competition, weak market conditions and rising cost base forces banks to look out for opportunities to make profits. And since this LIBOR submission was based on estimate rather than actuals, the bank management may have justified it and it seems everyone has taken the phrase "Morale to his own " quite seriously.
The manipulation of the LIBOR can be broken down into three phases. What were these and how did t...
The contracting process can generally be broken into three phases: planning, execution, and assessment. Question 9 options: True False
How can barriers of the past be broken down to allow nurses to have the opportunity to provide autonomous and accountable patient care? What type of leadership would be important to facilitate this movement?
the dissolution of an ionic solid in water can be broken down into three steps, each with an associated enthalpy change. For the dissolution of Mg(NO3)2 in water deltaHsoln=-90.9 kj/mo Which of the three enthalpy changes would you expect to be much more negative than the other two? __ - deltaHsolvent __ - deltaHsolute __ - deltaHmix
Identify the three phases of the nurse-patient relationship and discuss how the phases can be helpful in communicating effectively to patients, patients' families, and other healthcare professionals. Citations should conform to APA guidelines. You may use this APA Citation Helper as a convenient reference for properly citing resources or connect to the APA Style website through the APA icon below.
What three phases were active under the Joint FASB and IASB convergence project but were put on hold to focus on other convergence topics? A. Reporting entity, measurement, and presentation and disclosure B. Framework for a GAAP hierarchy, elements and recognition, and objective and qualitative characteristics C. Elements and recognition, measurement, presentation, and disclosure D. Measurement, reporting entity, and elements and recognition
What you own can be broken down into asset categories. In the following table, select a category for each item listed. Monetary Tangible Investment AssetS AssetS AssetS Individual Retirement Account (IRA) Your automobile Municipal bond Savings account Checking account Your house As you gather data regarding your assets, it is important to remember that regardless of category, you should record all assets on the balance sheet af purchase price lower of cost or market value fair market value
Explain smallpox. Where did smallpox originate? How did smallpox begin? What were the consequences of smallpox? Where are the implications of smallpox? How can we better understand smallpox? (500 words)
Case study: How did canes louis tackle the hardships?what were its consequences?were they helpful or resulted in diaaster? Please read the whole case and then answer.I want a perfect answer explaining each consequence in a appropriate way. If the answer is perfect then I will like it or thumps down.
What are the three historical phases of Shinto, and how does it tie into the idea of a theocracy? Why do you think that Shinto, identified so strongly with Japan, is described as a religion, compared to the previous ones we have discussed? Does this constitute a religion, a philosophy, or a pattern of behavior? What leads you to this conclusion (supply evidence in your response). Lastly, how does the blending of Shinto with Japanese government compare to the Chinese...
-Identify how unplanned readmissions to hospitals could be prevented through prevention planning during these three phases: Before admission, before discharge, after discharge. -If you or a family member were hospitalized, what would you do to prevent readmission?