LIBOR understates challenges facing European banks

11/1/2011 | Wall Street Journal, The

The difference between the London Interbank Offered Rate and what banks actually pay for short-term funding has made LIBOR unreliable and left it understating the financial situation of Europe's lenders. The discrepancy indicates that LIBOR does not reflect money markets' tightness as the sovereign-debt crisis continues.

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Wall Street Journal, The

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