The American Enterprise Institute asked a group of experts, including ISDA CEO Robert Pickel, to discuss proposals for resolving issues plaguing the London Interbank Offered Rate and other benchmarks. Alex Pollock of AEI offered a bit of history of how Libor came to be and how it has emerged as probably the world's most important index. The experts differed on many points but expect adjustments to be made to Libor's administration. However, deals might be drafted to rely on alternative benchmarks, they said.

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