Thursday, April 25, 2013

Bernanke: Alternatives to Libor Being Considered

Federal Reserve Chairman Ben Bernanke told Bloomberg today that “a new issue this year pertains to reference interest rates, which recent investigations have demonstrated were manipulated, particularly in the case of Libor.”

“The international regulatory community is taking actions to address the governance and the integrity of Libor and to consider transitions toward alternative benchmarks,” Bernanke said today during a meeting of the Financial Stability Oversight Council. He said the U.S. needs to cooperate in those efforts…

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