Norwegian regulator recommends strengthening Nibor framework

04/9/2013 | Bloomberg

Norway's Financial Supervisory Authority has looked into claims by foreign bankers that the Norwegian Interbank Offered Rate is being manipulated. "The Financial Supervisory Authority of Norway has found no evidence of rigging, or attempted rigging, of Nibor, but cannot disprove rigging either," according to the regulator. "The Nibor framework should be strengthened and made more robust to manipulation. It also needs to be more transparent to allow for subsequent testing and oversight."

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