Final nail in the Libor coffin
May 13, 2013
Threat of compulsion is good for Libor
The Wheatley report on Libor leaves questions unanswered but its thrust is very positive for treasurers and CFOs.
As BlackSwan argued in July, compelling banks to supply interbank offering rates may be necessary. Banks have been pulling out – or at least threatening to - of rate setting panels across the globe, fearful of further bad press and a hit to reputation. As the banking institutions are largely to blame for the libor scandal, sympathy with this reasoning may not be in much supply.
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