The Federal Home Loan Bank of New York agreed to pay $70 million to the bankruptcy estate of Lehman Brothers to settle charges that the bank undervalued interest rate swaps it held with Lehman as the company collapsed in 2008. Here are the details on the settlement.
In a bet that recent steep drops in short-term interest rates may be coming to an end, Franklin Credit Management Corporation said Wednesday that it had entered into interest rate swap agreements, hedging a portion of its interest-rate-sensitive borrowings against future increases in short-term interest rates.
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