Barometer of Fear
Page 28
ECB (2016) ‘MMS – Money Market Survey’. Statistical Data Warehouse website. Available from: https://sdw.ecb.europa.eu/browseExplanation.do?node=9689706 [accessed 21 May 2016].
Einzing, P. (1970) The Euro-Dollar System: Practice and theory of international interest rates, 4th edition. London: Macmillan.
Enrich, D. (2016) ‘A disgraced trader’s struggle for redemption’. The Wall Street Journal, 29 April.
Euromoney (2012a) ‘Euromoney rates survey 2012’. Euromoney, 43, 515 (March).
Euromoney (2012b) ‘Euromoney FX survey 2012’. Euromoney, 43, 517 (May).
European Banking Federation (2012a) ‘Mission statement’. EBF website. Available from: http://www.ebf-fbe.eu/index.php?page=mission-statement [accessed 4 September 2012].
European Banking Federation (2012b) Euribor Code of Conduct. Brussels: European Money Markets Institute. Available from: http://www.euribor-ebf.eu/assets/files/Euribor_code_conduct.pdf [accessed 4 September 2012].
European Commission (2014) ‘Antitrust: Commission settles cartel on bid–ask spreads charged on Swiss franc interest rate derivatives; fines four major banks €32.3 million’. Press release, 21 October. Available from: http://europa.eu/rapid/press-release_IP-14-1190_en.htm [accessed 21 December 2016].
European Council (2015) ‘Proposal for a regulation of the European Parliament and of the Council on indices used as benchmarks in financial instruments and financial contracts. Approval of the final compromise text, 14985/15’. Brussels: Council of the European Union. Available from: http://data.consilium.europa.eu/doc/document/ST-14985-2015-INIT/en/pdf [accessed 24 February 2016].
Feist, P. (2012) The Winter War and a Winter Warrior. The Redwood Stumper 2010: the newsletter of the Redwood Gun Club. Arcata CA: Redwood Gun Club.
FEMR (2015) Fair and Effective Markets Review: Final Report, June 2015. London: Bank of England.
Financial Conduct Authority (2013) ‘The FCA fines Rabobank £105 million for serious LIBOR-related misconduct’. Press release, 29 October. London: Financial Conduct Authority. Available from: https://www.fca.org.uk/news/the-fca-fines-rabobank-105-million-for-serious-libor-related-misconduct [accessed 21 December 2016].
Financial Conduct Authority (2014a) ‘Final notice 2014: Lloyds Bank plc, Bank of Scotland plc, 28 July 2014’. London: Financial Conduct Authority. Available from: https://www.fca.org.uk/static/documents/final-notices/lloyds-bank-of-scotland.pdf [accessed 21 December 2016].
Financial Conduct Authority (2014b) ‘Final notice 2014: HSBC Bank plc, 11 November’. London: Financial Conduct Authority. Available from: https://www.fca.org.uk/static/documents/final-notices/final-notice-hsbc.pdf [accessed 21 December 2016].
Financial Conduct Authority (2015) ‘Final notice 2015: Deutsche Bank AG, 23 April’. London: Financial Conduct Authority. Available from: https://www.fca.org.uk/static/documents/final-notices/deutsche-bank-ag-2015.pdf [accessed 21 December 2016].
Financial Services Agency (2011a) ‘Administrative actions against Citibank Japan Ltd’. Press release, 16 December. Tokyo: Financial Services Agency. Available from: http://www.fsa.go.jp/en/news/2011/20111216-1.html [accessed 21 December 2016].
Financial Services Agency (2011b) ‘Administrative action on Citigroup Global Markets Japan Inc.’ Press release, 16 December. Tokyo: Financial Services Agency. Available from: http://www.fsa.go.jp/en/news/2011/20111216-2.html [accessed 21 December 2016].
Financial Services Agency (2011c) ‘Administrative actions against UBS Securities Japan Ltd and UBS AG, Japan branches’. Press release, 16 December. Tokyo: Financial Services Agency. Available from: http://www.fsa.go.jp/en/news/2011/20111216-3.html [accessed 21 December 2016].
Financial Services Authority (2009) ‘Speech by Adair Turner, Chairman, FSA, The City Banquet, The Mansion House, London, 22 September’. FSA website. Available from: http://www.fsa.gov.uk/pages/Library/Communication/Speeches/2009/0922_at.shtml [accessed 21 December 2016].
Financial Services Authority (2012a) ‘Barclays fined £59.5 million for significant failings in relation to LIBOR and EURIBOR’. Press release, 27 June. London: Financial Services Authority. Available from: http://www.fsa.gov.uk/library/communication/pr/2012/070.shtml [accessed 21 December 2016].
Financial Services Authority (2012b) ‘Final notice 2012: Barclays Bank Plc, 27 June’. London: Financial Services Authority. Available from: http://www.fca.org.uk/static/documents/final-notices/barclays-jun12.pdf [accessed 21 December 2016].
Financial Services Authority (2012c) ‘UBS fined £160 million for significant failings in relation to LIBOR and EURIBOR’. Press release, 19 December. London: Financial Services Authority. Available from: http://www.fsa.gov.uk/library/communication/pr/2012/116.shtml [accessed 21 December 2016].
Financial Services Authority (2012d) ‘Final notice 2012: UBS AG, 19 December’. London: Financial Services Authority. Available from: http://www.fca.org.uk/static/documents/final-notices/ubs.pdf [accessed 21 December 2016].
Financial Services Authority (2013a) ‘Final notice 2013: The Royal Bank of Scotland plc, 6 February’. London: Financial Services Authority. Available from: http://www.fca.org.uk/static/fca/documents/final-notices/rbs.pdf [accessed 21 December 2016].
Financial Services Authority (2013b) ‘The regulation and supervision of benchmarks’. Policy Statement PS13/6 (March). London: Financial Services Authority. Available from: http://www.fsa.gov.uk/static/pubs/policy/ps13-06.pdf [accessed 21 December 2016].
Financial Stability Board (2011) ‘Policy measures to address systemically important financial institutions, 4 November’. Basel: Financial Stability Board. Available from: http://www.financialstabilityboard.org/publications/r_111104bb.pdf [accessed 21 December 2016].
Finch, G., Detrixhe, J. and Choudhury, A. (2016) ‘Spies who chased terrorists join banks to hunt for rogue traders’. Bloomberg, 16 February. Available from: http://www.bloomberg.com/news/articles/2016-02-16/spies-who-chased-terrorists-join-banks-to-hunt-for-rogue-traders [accessed 21 December 2016].
FNO (2011) ‘Rules for the calculation and publication of Norwegian money market rates – NIBOR’. Oslo: Finans Norge (FNO). Available from: http://www.fno.no/no/Hoved/Markets/NIBOR---the-Norwegian-Interbank-Offered-Rate/ [accessed 1 May 2013].
Fortado, L. (2015) ‘Former ICAP broker Darrell Read denies helping rig Libor’. Financial Times, 17 May. Available from: http://www.ft.com/cms/s/0/cfac6d1c-8d35-11e5-a549-b89a1dfede9b.html#axzz4IdxxeWso [accessed 21 December 2016].
Futures Industry Association (2012) ‘Annual volume survey 2011’. Futures Industry. Available from: http://www.futuresindustry.org/files/css/magazineArticles/article-1383.pdf [accessed 21 December 2016].
Goodhart, C. A. E. (1989) Money, Information and Uncertainty, 2nd edition. London: Macmillan.
Goodhart, C. and Curcio, R. (1991) ‘The clustering of bid/ask prices and the spread in the foreign exchange market’. LSE Financial Markets Group Discussion Paper No. 110. London: London School of Economics and Political Science (LSE).
Grossman, S. J., Miller, M. H., Cone, K. R., Fischel, D. R. and Ross, D. J. (1997) ‘Clustering and competition in asset markets’. Journal of Law and Economics, 40 (1), 23–60.
Güth, W., Kocher, M. and Sutter, M. (2002) ‘Experimental “beauty contests” with homogeneous and heterogeneous players and with interior and boundary equilibria’. Economics Letters, 74, 219–28.
Gyntelberg, J. and Wooldridge, P. (2008) ‘Interbank fixings during the recent turmoil’. BIS Quarterly Review, March, 47–72.
Harley, D. (2006) ‘Anticompetitive social norms as antitrust violations’. California Law Review, 94 (3), 769–92.
Hickey, S. and Grierson, J. (2015) ‘Former City trader Tom Hayes given 14-year sentence for Libor rigging’. The Guardian, 3 August. Available from: https://www.theguardian.com/uk-news/2015/aug/03/former-city-trader-tom-hayes-convicted-of-libor-rigging [accessed 21 December 2016].
Higonnet, R. P. (1985) ‘Eurobanks, Eurodollars and international debt’ in Savona, P. and Sutija, G. (ed
s) Eurodollars and International Banking. Basingstoke: Macmillan.
HM Treasury (2012) The Wheatley Review of LIBOR: Final report. London: HM Treasury. Available from: http://cdn.hm-treasury.gov.uk/wheatley_review_libor_finalreport_280912.pdf [accessed 21 December 2016].
Ho, T.-H., Camerer, C. and Weigelt, K. (1998) ‘Iterated dominance and iterated best response in experimental “p-beauty contests”’. American Economic Review, 88 (4), 947–69.
Hodges, J. (2016) ‘U.K. trader’s “blind ambition” led to Libor fixing, SFO says’. Bloomberg, 17 May. Available from: http://www.bloomberg.com/news/articles/2016-05-17/libor-asks-by-barclays-big-dogs-were-tough-to-ignore-sfo-says [accessed 21 December 2016].
Hull, J. (1991) Introduction to Futures and Options Markets. Englewood Cliffs NJ: Prentice Hall.
IBA (2014) ‘Libor Code of Conduct: contributing banks. issue 2: 3 February 2014’. London: ICE Benchmark Administration Limited. Available from: https://www.theice.com/publicdocs/IBA_Code_of_Conduct.pdf [accessed 15 March 2015].
ICE (2016) Roadmap for ICE LIBOR: 18th March 2016. London: ICE Benchmark Administration. Available from: https://www.theice.com/publicdocs/ICE_LIBOR_Roadmap0316.pdf [accessed 21 December 2016].
JBA (2012) JBA TIBOR Publications Rules. Tokyo: Japanese Bankers Association. Available from: http://www.zenginkyo.or.jp/en/tibor/publication_rules/index/publication_rulesE.pdf [accessed 1 September 2012].
Kahneman, D. (2011) Thinking, Fast and Slow. New York NY: Farrar, Straus & Giroux.
Keynes, J. M. (1936) The General Theory of Employment, Interest and Money. London: Macmillan.
Khandani, A. E. and Lo, A. W. (2007) ‘What happened to the quants in August 2007?’ Journal of Investment Management, 5 (4), 5–54.
Kollewe, J. (2009) ‘Merrill Lynch reports record fourth-quarter loss’. The Guardian, 16 January. Available from: https://www.theguardian.com/business/2009/jan/16/merrilllynch-citigroup [accessed 21 December 2016].
Kyle, S. A. (1985) ‘Continuous auctions and insider trading’. Econometrica, 53 (6), 1315–35.
Lawson, T. (1985) ‘Uncertainty and economic analysis’. Economic Journal, 95 (380), 909–27.
Lukes, S. (1974) Power: A radical view. London: Macmillan.
Lyng, S. (1990) ‘Edgework: a social psychological analysis of voluntary risk taking’. American Journal of Sociology, 95 (4), 851–86.
MacKenzie, D. (2007) ‘The material production of virtuality: innovation, cultural geography and facticity in derivatives markets’. Economy and Society, 36 (3), 355–76.
McAdams, R. H. (1997) ‘The origin, development, and regulation of norms’. Michigan Law Review, 96, 338–433.
McAndrews, J., Sarkar, A. and Wang, Z. (2008) ‘The effect of the term auction facility on the London Interbank Offered Rate’. Federal Reserve Bank of New York Staff Reports, 335.
McCool, G. (2009) ‘Merrill bonus names are not secret: NY judge’. Reuters, 18 March. Available from: http://www.reuters.com/article/us-bankofamerica-merrill-bonuses-idUSTRE52H7BT20090318 [accessed 21 December 2016].
Mitchell, J. D. (2001) ‘Clustering and psychological barriers: the importance of numbers’. Journal of Futures Markets, 21 (5), 395–428.
Mollenkamp, C. and Whitehouse, M. (2008) ‘Study casts doubt on key rate’. The Wall Street Journal, 29 May. Available from: http://www.wsj.com/articles/SB121200703762027135 [accessed 21 December 2016].
Mollenkamp, C., Ablan, J. and Goldstein, M. (2012) ‘How gaming Libor became business as usual’. International Financing Review, 20 November. Available from: http://www.ifre.com/special-reporthow-gaming-libor-became-business-as-usual/21053916.article [accessed 21 December 2016].
Nagel, R. (1995) ‘Unravelling in guessing games: an experimental study’. American Economic Review, 85, 1313–26.
Nagel, R. (1999) ‘A survey of experimental beauty contest games: bounded rationality and learning’ in Budescu, D., Erev, I. and Zwick, R. (eds) Games and Human Behavior: Essays in honor of Amnon Rapoport. Mahwah NJ: Lawrence Erlbaum.
Nagel, R., Bosch-Domènech, A., Montalvo, J. G. and Satorra, A. (2002) ‘One, two, (three), infinity, …: newspaper and lab beauty-contest experiments’. American Economic Review, 92, 1687–701.
New York State Department of Financial Services (2015) ‘In the matter of Barclays Bank plc, Barclays Bank plc, New York Branch, consent order under New York Banking Law §§ 44 and 44-a’. New York NY: New York State Department of Financial Services. Available from: http://im.ft-static.com/content/images/ee8b6f40-fef5-11e4-84b2-00144feabdc0.pdf [accessed 21 December 2016].
Porter, T. (2005) Globalization and Finance. Cambridge: Polity Press.
Ross, S. A. (1976) ‘Options and efficiency’. Quarterly Journal of Economics, 90, 75–89.
Royal Courts of Justice (2015) ‘EWCA Crim 1944, Case No: 201504027 C3’. London: Royal Courts of Justice. Available from: https://www.judiciary.gov.uk/wp-content/uploads/2015/12/r_-v_tom_alexander_william_hayes_redacted_approved.pdf [accessed 21 December 2016].
Sandel, M. J. (2012) What Money Can’t Buy: The moral limits of markets. New York NY: Farrar, Straus & Giroux.
Sarver, E. (1990) The Eurocurrency Market Handbook, 2nd edition. New York NY: New York Institute of Finance.
SEC (1996a) ‘Order execution obligations, 17 CFR Part 240’. Washington DC: Securities and Exchange Commission (SEC). Available from: https://www.sec.gov/rules/final/37619a.txt [accessed 21 December 2016].
SEC (1996b) ‘Report pursuant to section 21(a) of the Securities Exchange Act of 1934 regarding the NASD and the Nasdaq stock market’. Washington DC: Securities and Exchange Commission (SEC). Available from: https://www.sec.gov/litigation/investreport/nd21a-report.txt [accessed 21 December 2016].
Simmel, G. (1906) ‘The sociology of secrecy and secret societies’. American Journal of Sociology, 11 (4), 441–98.
Smith, A. (1991 [1776]) The Wealth of Nations. London: Everyman’s Library.
SNB (2015) ‘Monetary policy strategy’. Swiss National Bank (SNB) website. Available from: http://www.snb.ch/en/iabout/monpol/id/monpol_strat#t7 [accessed 21 December 2016].
Soultanaeva, A. and Strömqvist, M. (2009) ‘The Swedish money market risk premium: experiences from the crisis’. Sveriges Riksbank Economic Review, 3, 5–25.
Spiegel, M. (2001) ‘The return of the “Japan premium”: trouble ahead for Japanese banks?’ FRBSF [Federal Reserve Bank of San Francisco] Economic Letter, 2001-06.
State of New York Office of the Attorney General (2009a) ‘Attorney General’s memorandum in opposition to motion to intervene and petition to quash or modify subpoena, index no.: 400381109, 11 March’. New York NY: State of New York Office of the Attorney General. Available from: http://www.wsj.com/public/resources/documents/MemInOpp20090311.pdf [accessed 21 December 2016].
State of New York Office of the Attorney General (2009b) ‘Re: Bank of America – Merrill Lynch merger investigation. Letter from Andrew M. Cuomo, 23 April’. New York NY: State of New York Office of the Attorney General. Available from: http://www.wsj.com/public/resources/documents/BofAmergLetter-Cuomo4232009.pdf [accessed 21 December 2016].
Statistisk Sentralbyrå (2014) Kulturstatistikk 2014. Oslo: Statistics Norway. Available from: https://www.ssb.no/en/kultur-og-fritid/artikler-og-publikasjoner/_attachment/250101?_ts=152cab395e8 [accessed 21 December 2016].
Statistisk Sentralbyrå (2016) ‘Norwegian exports of weapons 2011–2015: exports of arms rose in 2015. Press release, 15 January. Oslo: Statistics Norway. Available from: https://www.ssb.no/en/utenriksokonomi/artikler-og-publikasjoner/exports-of-arms-rose-in-2015 [accessed 21 December 2016].
Stenfors, A. (2013) ‘Determining the LIBOR: a study of power and deception’. PhD thesis, SOAS, University of London.
Stenfors, A. (2014a) ‘LIBOR as a Keynesian beauty contest: a process of endogenous deception’. Review of Political Economy, 26 (3), 392–407.
Stenfors, A. (2014b) ‘LIBOR deception and central bank forward (mis-)guidance: evidence from Norway during 2007–2011’. Journa
l of International Financial Markets, Institutions and Money, 32, 452–72.
Stenfors, A. and Lindo, D. (2016) ‘The LIBOR eclipse: political economy of a benchmark’. Research on Money and Finance Discussion Papers No. 47. London: Department of Economics, SOAS, University of London.
Stiglitz, J. and Greenwald, B. (2003) Towards a New Paradigm in Monetary Economics. Cambridge: Cambridge University Press.
Story, L. and Dash, E. (2009) ‘Undisclosed losses at Merrill Lynch lead to a trading inquiry’. The New York Times, 5 March. Available from: http://www.nytimes.com/2009/03/06/business/06wall.html?n=Top%2fReference%2fTimes%20Topics%2fSubjects%2fF%2fFinances [accessed 21 December 2016].
Strange, S. (1986) Casino Capitalism. Oxford: Basil Blackwell.
Thaler, R. (1985) ‘Mental accounting and consumer choice’. Marketing Science, 4 (3), 199–214.
The Telegraph (2015) ‘Tom Hayes LIBOR trial: the top quotes’. The Telegraph, 4 August. Available from: http://www.telegraph.co.uk/finance/financial-crime/11780670/Tom-Hayes-LIBOR-trial-the-top-quotes.html [accessed 21 December 2016].
Thornton, D. L. (2009) ‘What the Libor–OIS spread says’. Economic Synopses No. 24. St. Louis MO: Federal Reserve Bank of St. Louis.
Treanor, J. (2015) ‘Libor-rigging fines: a timeline’. The Guardian, 23 April. Available from: http://www.theguardian.com/business/2015/apr/23/libor-rigging-fines-a-timeline [accessed 21 December 2016].
Tversky, A. and Kahneman, D. (1974) ‘Judgement under uncertainty: heuristics and biases’. Science, 185 (4157), 1124–31.
UBS (2012) ‘UBS Board of Directors authorizes settlements of LIBOR-related claims with US and UK authorities; Swiss regulator to issue order’. Press release, 19 December. Zurich: UBS. Available from: https://www.ubs.com/global/en/about_ubs/media/global/releases/news_display_media_global.html/en/2012/12/19/20121219a.html [accessed 21 December 2016].
United States Department of Justice (2012) ‘United States of America v. Tom Alexander William Hayes and Roger Darin, 12 MAG 3229’. Washington DC: United States Department of Justice. Available from: https://www.justice.gov/sites/default/files/ag/legacy/2012/12/19/Hayes-Tom-and-Darin-Roger-Complaint.pdf [accessed 28 December 2016].