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This is intended to be a class action on behalf of all lending institutions headquartered in the State of New York or with a majority of their operations in the State of New York, that originated, purchased outright, or purchased a participation interest in loans paying interest at rates tied to the US Dollar London Interbank Offered Rate ("LIBOR"). The action alleges that sixteen different banking organizations acted to depress improperly the setting of LIBOR, which resulted in the plaintiff banks collecting less interest on loans that they held. To support the plaintiff's claim of misconduct

Bank for International Settlements July 25, 2012 The Basel Committee on Banking Supervision has issued interim rules on the capitalisation of exposures to central clearing counterparties (CCPs) as a part of Basel II. These rules are expected to come into force in January 2013. CCPs which are supervised under the new CPSS-IOSCO Principles for Financial Market Infrastructures will receive a preferential capital treatment, and in particular trade exposures will receive a nominal risk-weighting of 2%. Banks will also be able to choose between two approaches to determining the capital required for