Corrupt EU Parliament fucks spew out press release trying to sustain confidence that interest rate corruption is over.. LOL

Without corruption the whole NWO would collapse overnight


[link to www.europarl.europa.eu]


Benchmark interest rates that are critical to financial market stability across Europe, such as the London Interbank Offered Rate (LIBOR) and the Euro Interbank Offered Rate (EURIBOR), will become more reliable thanks to a new law voted in by Parliament on Thursday. This law aims to clean up the benchmark-setting process, improve transparency, and prevent conflicts of interest like those that led to the LIBOR rigging scandals of recent years.

"This law should put an end to manipulation of benchmarks and I am delighted it has now been passed. These indices are important for people with mortgages, but are also used to establish the price of petrol and the Euro exchange rate and should therefore be fully trustworthy. I am proud that Europe is the first continent to regulate this", said lead MEP Cora van Nieuwenhuizen (ALDE, NL). The law was passed by 505 votes to 113, with 31 abstentions.

Benchmark categories

The law creates three categories of benchmarks, subject to different supervisory regimes depending on how much influence they have over the stability of financial markets.

“Critical” benchmarks influence financial instruments and contracts with an average value of at least €500 billion and could thus affect the stability of financial markets across Europe. A benchmark may also be deemed critical if it has no or very few appropriate substitutes and if it were to cease to be provided, there would be a significant and adverse impact on market stability.


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