Lawyers for Mark Cuban and the U.S. Securities and Exchange Commission will deliver opening statements tomorrow in the billionaire basketball team owner’s insider trading trial.
The cost of dollar funding in euro money markets fell to the lowest in a month as banks snapped up cheaper loans from the European Central Bank.
European Central Bank President Mario Draghi’s $1.3 trillion of cheap loans and pledge to do whatever it takes to stand behind the euro helped push indicators of stress in the continent’s money markets down by an unprecedented degree this year.
The cost of borrowing euros for three months fell below a similar dollar loan measure for the first time since 2008, following official benchmark interest rates and government bond yields lower.
The European Central Bank’s decision to relax bank funding rules to mirror conditions last seen after Lehman Brothers Holdings Inc.’s collapse signals hard times for lenders.
"We look forward to a fair trial."
- Chris Clark on Sep 29, 2013