After four years in the courts, the LIBOR litigation may now be poised to address many market/economic issues of the antitrust claim.
- How much market power did LIBOR panel banks have?
- How long could a collusive agreement influence the LIBOR market?
- Which LIBOR denominated contract holders were damaged?
- On how many days were plaintiffs hurt or helped?
- What has four more years of economic research shown about LIBOR manipulation?
This four part series began with the market microstructure of LIBOR setting and how many collusive banks would be needed to move LIBOR certain magnitudes. Session 2 addressed market models of contracts and how some common features of contract impact who was damaged. Session 3 continued by reviewing the existing research about the effects of LIBOR manipulation, including those that have been performed in the last four years. The final discussion will address Credit Default Swaps and their relevance in evaluating claims of LIBOR manipulation.
Join us to hear more: LIBOR Manipulation and Its Impact On Markets – a four part series:
Session 1: How is it set? How will judges’ definitions impact future analyses?
Instructor: Dr. Timothy Weithers: Former Managing Director, UBS and Executive Director, Chicago Trading Company.
This session provides the critical background about what the multiple LIBOR rates are, how the major banks set these rates, and why they matter to global financial markets. Dr. Weithers will discuss the following topics:
- How was LIBOR allegedly manipulated by the banks?
- How exactly are LIBORs set?
- What are all of the LIBOR rates?
- Which major currencies around the globe have LIBOR rates?
- What types of banking, corporate and consumer transactions are impacted by LIBOR?
- What countries are impacted by the alleged manipulation?
- What have the judges said about LIBOR setting and the implications of those rulings for future analyses of LIBOR manipulation?
Fundamental resources defining LIBOR will be provided.
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