Monday, October 15, 2012

UK REGULATOR PLANS MAJOR REFORM OF LIBOR SYSTEM

Britain's market regulator unveiled proposals for sweeping reforms of the much maligned London
Inter bank Offered Rate (LIBOR) but stopped short of recommending a replacement of the rate or basing it entirely on actual submissions by banks. The financial Services Authority, announced the 1 point reform plan to the rate used as a benchmark for the pricing of assets globally.

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