Regulators and banks look into revamping LIBOR process

Claims that LIBOR might have been manipulated prompted regulators and major banks to look into overhauling the way interbank offered rates are calculated and regulated. "As part of the normal reviewing processes of LIBOR, a number of contributing banks met today to consider future regulatory and market developments, such as the incoming liquidity rules, relevant to the parameters that LIBOR measure," according to the British Bankers' Association, which sponsors LIBOR.

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