Fannie Mae sues 9 giant banks over Libor losses
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Fannie Mae sues 9 giant banks over Libor losses

Last Updated: Friday, November 1, 2013, 11:54
 
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Fannie Mae sues 9 giant banks over Libor losses
Washington: Fannie Mae Thursday sued nine giant banks plus the British Bankers Association over some USD 800 million in losses due to alleged rate-rigging manipulation in the latest fallout from the Libor scandal.

Fannie Mae, citing recent settlements involving four of the banks, said it lost USD 332 million in interest-rate swaps with the defendant banks, with the other losses in trades with other counterparties.



AFP

First Published: Friday, November 1, 2013, 11:54


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