U.S. official questions sustainability of benchmark rates

02/21/2013 | Bloomberg Businessweek

Gary Gensler, chairman of the U.S. Commodity Futures Trading Commission, says he doubts the long-term viability of benchmarks such as the London Interbank Offered Rate. Gensler, calling Libor and other benchmarks unstable and their underlying markets permanently disrupted, says "anchoring to real transactions is essential to have confidence in these benchmarks".

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