Proposed law prevents banks from leaving Euribor

02/11/2013 | Reuters

European regulators worry that if the European Interbank Offered Rate panel becomes too small the rate will be more susceptible to manipulation. The European Banking Federation on Friday endorsed a proposed measure to make submissions mandatory while recognizing that providing banks with incentives might be more effective. Legislators will take up the proposal in the second half of this year according to EU financial services chief Michel Barnier.

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