Friday, June 14, 2013

This Week in Bank Failures

Now that so many U.S. banks are Canadian-owned, what would happen if one of those banks failed? Deposit insurers in the two countries worked out many of the details in a document signed this week.

More than 20 banks and more than 100 bankers attempted to manipulate a key base rate in Singapore, known as Sibor, according to a regulatory report released today. The report suggests criminal prosecutions and billions of dollars in fines. It also suggests that Sibor be discontinued.