What was the problem with LIBOR?

Libor transmitted the crisis far and wide since every day Libor rate-setting banks estimated higher and higher interest rates. Libor rose, making loans more expensive, even as global central banks rushed to slash interest rates.

How is Sonia calculated?

SONIA is calculated as the trimmed mean, rounded to four decimal places, of interest rates paid on eligible sterling-denominated deposit transactions. This trimmed mean is calculated as the volume-weighted mean rate, based on the central 50\% of the volume-weighted distribution of rates.

What banks were involved in the LIBOR scandal?

Many leading financial institutions were implicated in the scandal, including Deutsche Bank (DB), Barclays (BCS), Citigroup (C), JPMorgan Chase (JPM), and the Royal Bank of Scotland (RBS).

What is Kibor rate?

From Wikipedia, the free encyclopedia. The Karachi Interbank Offered Rate, commonly known as KIBOR, is a daily reference rate based on the interest rates at which banks offer to lend unsecured funds to other banks in the Karachi wholesale (or “interbank”) money market.

Is Tom Hayes still married?

Personal life. Hayes’ marriage to Sarah Tighe, a corporate lawyer in London, did not last the duration of his imprisonment. Although separated, however, the couple remain on good terms and Tighe continues to campaign for Hayes’ conviction to be quashed. They have one child, Joshua.

How old is Thomas Hayes?

24 years (March 7, 1997)
Thomas Hayes/Age

What is replacing LIBOR?

So, in 2017 the regulators agreed that Libor would cease at the end of 2021, with a transition to transaction-based rates such as the sterling overnight index average (Sonia) and secured overnight financing rate (SOFR).

WHO publishes SONIA rate?

The Bank of England
The Bank of England runs SONIA – the risk-free rate for sterling markets.

https://www.youtube.com/watch?v=MTOxGmYn2RU