The Guardian, BBC and Financial Times have reported on the legal claim that has been filed by seven councils against Barclays, which is linked to £500m LOBOs underpinned by LIBOR.  No LOBOs believe this law suit is the wrong approach for councils seeking redress from LOBOs. BBC The Guardian FT

The BBC reports that evidence has emerged of a government agency’s role in the Royal Bank of Scotland’s (RBS) controversial Global Restructuring Group (GRG). View BBC

An internal report by Cornwall Council titled ‘Refinancing of the Council’s Two Royal Bank of Scotland Inverse Floating LOBOs’, confirms support for the Section 151 Officer’s delegated decision to redeem two existing RBS inverse floating LOBO’s. The report states that...

The court case brought by the Serious Fraud Office (SFO) will see the former chief executive John Varley, ex investment banking chief Roger Jenkins, former Barclays Wealth boss Thomas Kalaris and ex-European financial institutions head Richard Boath face charges over conspiracy to commit fraud...