6/26/2013

Mark Carney, chairman of the Financial Stability Board, says a task force will be established to examine the way benchmark rates such as the London Interbank Offered Rate are determined, then report on whether changes are needed. "What has to be taken into account is the robustness of the standard," said Carney, who will soon take over as governor of the Bank of England. "We have to recognise that even some transaction-based benchmarks could be manipulated; it depends on the depth of the market."

Related Summaries