Credit Suisse inches closer to $13.75M settlement in CHF LIBOR lawsuit
The plaintiffs in a CHF LIBOR lawsuit targeting Credit Suisse seek the Court’s approval of the proposed $13.75 million settlement.
The plaintiffs in a CHF LIBOR lawsuit targeting Credit Suisse seek the Court’s approval of the proposed $13.75 million settlement.
Under the proposed settlements, NatWest Markets Plc will pay $21 million, whereas Deutsche Bank AG will pay $13 million.
The European Commission has nominated the replacement rates for two interest rate benchmarks, CHF LIBOR and EONIA.
SNB is supporting market participants in the transition from Libor to new and more robust reference rates such as SARON.
The Swiss Financial Market Supervisory Authority (FINMA) has published a transition roadmap for LIBOR.
FINMA finds progress has been made in efforts to ensure an orderly transition from LIBOR to alternative interest rates.