Relevant:
- Schwab Sues Bank of America, Citigroup for Manipulating LIBOR Rates; IMF Notes that LIBOR Underpins $400 Trillion in Financial Derivatives
- Sinclair: Greek Tragedy Effects $37 Trillion, Not "$3.5 Billion"
- The shadow bailout of the commercial real estate industry
- Nikkei Surges As BOJ Injects Another ¥3.5 Trillion: Just Add It To The Existing ¥23 Trillion Plunge Protection Tab
- How (And Why) Banks Increased Total Outstanding Derivatives By A Record $107 Trillion In 6 Months
2017-08-02 — zerohedge.com
``And while the rationale for replacing Libor is well understood, there are still no clear alternatives. Ultimately, as Bank of America calculates, "moving an existing $9.6 trillion retail mortgage market, $3.5 trillion commercial real estate market, $3.4 trillion loan market and a $350 trillion derivatives market is a herculean task."''
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