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Breaking News |
| BBA agrees to bow out of Libor |
|
The British Bankers' Association has agreed to drop its role in the
setting of Libor, paving the way for government regulation of the
scandal-riven interbank rates that serve as the benchmark for more than
$350tn in contracts worldwide. The trade body formally voted last week to relinquish its decades-long sponsorship of the London Interbank Offered Rates more than four years after questions were first raised about whether banks were lying in their submissions to the rate-setting process. http://link.ft.com/r/OZMCDD/ |
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