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European Banking Editor — Wall Street Journal

European banking editor for The Wall Street Journal. Mustn't grumble. david.enrich@wsj.com

Hayes Tells Libor Trial He Admitted Misconduct to Avoid Extradition

wsj.com — LONDON-Tom Hayes, the alleged ringleader of a global interest-rate-rigging conspiracy, testified Tuesday that he previously admitted to misconduct to British investigators solely in an attempt to avoid being extradited to the U.S. Mr. Hayes took to the witness stand as he sought to defend himself against eight criminal charges.

Citigroup Executive Pressured Brokers Over Libor, Court Hears

wsj.com — LONDON-A Citigroup Inc. executive in London said he was pressuring brokers to get other banks to lower their interest-rate submissions, a London court heard Tuesday. Andrew Thursfield, a high-ranking executive in Citigroup's London office, wrote to a colleague in September 2007 about plans to try to get the London interbank offered rate, or Libor, to a lower level.

Deutsche Bank Executive Dismissed Libor Fixing As a ‘Conspiracy Theory’

wsj.com — LONDON-A Deutsche Bank AG executive whose employees have been accused of rigging interest rates told a British trade group that such manipulation was nothing more than a "conspiracy theory," a London court heard on Tuesday.

Libor Trial Hears Global Banks Submitted Skewed Data

wsj.com — A succession of global banks told a British trade association in 2005 and 2006 that they and their rivals were deliberately submitting inaccurate data for inclusion in the London interbank offered rate, or Libor, in some cases to boost the interest rates that borrowers had to pay on their loans, a court heard.

Deutsche Bank co-CEOs resign

marketwatch.com — LONDON-The embattled co-chief executives of Deutsche Bank AG announced their resignations on Sunday, an abrupt move that throws into question the future direction of one of the world's largest banks. Anshu Jain, a longtime trader and investment banker, plans to step down at the end of June.

Deutsche Bank Co-CEOs to Resign

wsj.com — LONDON-Anshu Jain and Jürgen Fitschen, the embattled co-chief executives of Deutsche Bank AG, are planning to resign, according to people familiar with the matter. The joint resignations of the co-CEOs are expected to be announced as soon as Sunday, one person said.

British Bankers’ Association Officials Received Warnings About Libor in 2007, Court Hears

wsj.com — LONDON-The group responsible for running a key interest-rate benchmark was warned in 2007 that banks were manipulating the figure to benefit their trading positions, a London court heard Friday.

WaMu Is Seized, Sold Off to J.P. Morgan, In Largest Failure in U.S. Banking History

wsj.com — In what is by far the largest bank failure in U.S. history, federal regulators seized Washington Mutual Inc. and struck a deal to sell the bulk of its operations to J.P. Morgan Chase & Co. The collapse of the Seattle thrift, which was triggered by a wave of deposit withdrawals, marks a new low point in the country's financial crisis.

Hayes Told Investigators of ‘Collusive’ Price Fixing

wsj.com — LONDON-Former bank trader Tom Hayes told British investigators that he was involved in inappropriate attempts at price-fixing with a rival trader, a London court heard Monday. Mr. Hayes, a former UBS AG and Citigroup Inc.

Libor Accused Received Help from Boss, Evidence Shows

wsj.com — Tom Hayes got multiple assists from his manager to get colleagues to adjust interest-rate data LONDON-The man accused of being the ringleader of a global interest-rate-rigging conspiracy received a helping hand from his boss, according to evidence presented in a London trial Thursday.
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Jun 27, 2015

This is remarkable. Deutsche Bank was lying to the public and to regulators about #Libor. ft.com/cms/s/0/bd6df1…

Jun 26, 2015

Citigroup exec who blew whistle on Tom Hayes was himself manipulating #Libor, court hears. m.risk.net/operational-ri…

Jun 23, 2015

.@carolinebinham “Some of the wording is poorly chosen,” Mr. Thursfield said.

Jun 19, 2015

CEO of scandal-plagued UBS says it's "totally unfair" to claim bankers haven't learned their lesson. on.wsj.com/1dMwI2X

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