{"id":6136,"date":"2017-04-13T17:19:02","date_gmt":"2017-04-13T22:19:02","guid":{"rendered":"https:\/\/www.institutionalinvestorsecuritiesblog.com\/?p=1529"},"modified":"2022-03-10T16:37:40","modified_gmt":"2022-03-10T22:37:40","slug":"swaps-interest-rate-cases-fhlbny-settles-lehman-brothers-70m-banco-santander-portugal-come-agreement","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/swaps-interest-rate-cases-fhlbny-settles-lehman-brothers-70m-banco-santander-portugal-come-agreement\/","title":{"rendered":"Swaps Interest Rate Cases: FHLBNY Settles With Lehman Brothers for $70M & Banco Santander and Portugal Come to An Agreement"},"content":{"rendered":"

\t\t\t\tThe Federal Home Loan Bank of New York will pay Lehman Brothers and its Special Financing unit a $70M settlement in an interest-rate swaps case<\/a>. The plaintiffs sued FHLBNY two years ago seeking over $150M that they claim they were owed related to their position on more than 350 swaps and options transactions. <\/p>\n

Lehman filed for Chapter 11 bankruptcy protection in 2008. The move froze the markets while spurring the end of millions of derivative transactions in which it was involved. A few days later, when FHlBNY ended its swaps with Lehman, it did so with a $16.5B notional amount.<\/p>\n

According to Lehman, due to interest rate fluctuations after its bankruptcy filing, FHLBNY returned and \u201ccherry picked\u201d other end dates. As a result, claims the plaintiff, the latter \u201cmassively understate\u201d how much it owed Lehman.<\/p>\n

Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Federal Home Loan Bank of New York will pay Lehman Brothers and its Special Financing unit a $70M settlement in an interest-rate swaps case. The plaintiffs sued FHLBNY two years ago seeking over $150M that they claim they were owed related to their position on more than 350 swaps and options transactions. Lehman filed […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3824,3972],"tags":[2625,2791],"class_list":["post-6136","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-lehman-brothers","category-swap-transactions","tag-banco-santander","tag-federal-home-loan-bank-of-new-york"],"yoast_head":"\nSwaps Interest Rate Cases: FHLBNY Settles With Lehman Brothers for $70M & Banco Santander and Portugal Come to An Agreement — Investor Lawyers Blog — April 13, 2017<\/title>\n<meta name=\"description\" content=\"The Federal Home Loan Bank of New York will pay Lehman Brothers and its Special Financing unit a $70M settlement in an interest-rate swaps case. The — April 13, 2017\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/swaps-interest-rate-cases-fhlbny-settles-lehman-brothers-70m-banco-santander-portugal-come-agreement\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Swaps Interest Rate Cases: FHLBNY Settles With Lehman Brothers for $70M & Banco Santander and Portugal Come to An Agreement — Investor Lawyers Blog — April 13, 2017\" \/>\n<meta name=\"twitter:description\" content=\"The Federal Home Loan Bank of New York will pay Lehman Brothers and its Special Financing unit a $70M settlement in an interest-rate swaps case. 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The — April 13, 2017","twitter_misc":{"Written by":"Shepherd Smith Edwards & Kantas, LLP","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/swaps-interest-rate-cases-fhlbny-settles-lehman-brothers-70m-banco-santander-portugal-come-agreement\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/swaps-interest-rate-cases-fhlbny-settles-lehman-brothers-70m-banco-santander-portugal-come-agreement\/"},"author":{"name":"Shepherd Smith Edwards & Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Swaps Interest Rate Cases: FHLBNY Settles With Lehman Brothers for $70M & Banco Santander and Portugal Come to An Agreement","datePublished":"2017-04-13T22:19:02+00:00","dateModified":"2022-03-10T22:37:40+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/swaps-interest-rate-cases-fhlbny-settles-lehman-brothers-70m-banco-santander-portugal-come-agreement\/"},"wordCount":590,"keywords":["Banco Santander","Federal Home Loan Bank of New York"],"articleSection":["Financial Firms","Lehman Brothers","Swap Transactions"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/swaps-interest-rate-cases-fhlbny-settles-lehman-brothers-70m-banco-santander-portugal-come-agreement\/","url":"https:\/\/www.investorlawyers.com\/blog\/swaps-interest-rate-cases-fhlbny-settles-lehman-brothers-70m-banco-santander-portugal-come-agreement\/","name":"Swaps Interest Rate Cases: FHLBNY Settles With Lehman Brothers for $70M & Banco Santander and Portugal Come to An Agreement — Investor Lawyers Blog — April 13, 2017","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2017-04-13T22:19:02+00:00","dateModified":"2022-03-10T22:37:40+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"The Federal Home Loan Bank of New York will pay Lehman Brothers and its Special Financing unit a $70M settlement in an interest-rate swaps case. 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