Libor overhaul may not rebuild investor confidence

06/11/2008 | Bloomberg

Investor confidence in the London Interbank Offered Rate might not rebound even though the British Bankers' Association announced its first reform of the benchmark in a decade. "It's clearly a step in the right direction but the announcement sounds like another public relations exercise by the BBA," said Stuart Thomson, a money manager at Resolution Investment Management Ltd. Libor is the benchmark interest rate for $360 trillion of derivatives, bonds and loans.

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