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UK banking lobby is ready to give up Libor setting

 
Xorizov
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User ID: 7118143
Sweden
09/26/2012 12:37 PM
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UK banking lobby is ready to give up Libor setting
"The British Bankers' Association (BBA) is going to hand over responsibility for setting Libor benchmark borrowing rate to the regulators, following a series of scandals over alleged rate rigging.
The move anticipates a proposal from the UK regulators to take over the task of rate setting. On Friday Financial Services Authority chief Martin Wheatley is expected to reveal a report on the Libor rate, including a proposal to bring oversight of the Libor rate under the control of regulators.
"If Mr. Wheatley's recommendations include a change of responsibility for Libor, the BBA will support that," the BBA said in a brief statement on Tuesday."

[link to rt.com]

Last Edited by Xorizov on 09/26/2012 12:40 PM
Xorizov (OP)

User ID: 7118143
Sweden
09/26/2012 12:48 PM
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Re: UK banking lobby is ready to give up Libor setting
bump
Anonymous Coward
User ID: 24384406
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09/26/2012 12:59 PM
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Re: UK banking lobby is ready to give up Libor setting
Regulators ? Arent they just recycled bankers for christs sake ? one in the same !

and for them doing this nice gesture all the past fraud is foregiven......right ?

laugh
Xorizov (OP)

User ID: 7118143
Sweden
09/26/2012 01:12 PM
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Re: UK banking lobby is ready to give up Libor setting
Hmm... scratching