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Economy
In reply to the discussion: STOCK MARKET WATCH -- Tuesday, 9 July 2013 [View all]xchrom
(108,903 posts)13. Libor interest rate to be controlled by NYSE Euronext
http://www.bbc.co.uk/news/business-23240707
The owner of the New York Stock Exchange is set to take control of a key scandal-hit bank interest rate.
NYSE Euronext has won the contract for setting the London Inter-bank Offered Rate (Libor), a government-backed committee announced.
Libor is used to set trillions of dollars of financial contracts.
The move follows the revelation that banks had been manipulating the rate. Barclays, UBS and RBS have all been fined for their roles in the scandal.
The owner of the New York Stock Exchange is set to take control of a key scandal-hit bank interest rate.
NYSE Euronext has won the contract for setting the London Inter-bank Offered Rate (Libor), a government-backed committee announced.
Libor is used to set trillions of dollars of financial contracts.
The move follows the revelation that banks had been manipulating the rate. Barclays, UBS and RBS have all been fined for their roles in the scandal.
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You probably have me on ignore, but I'm going to say this anyway. There were several ways to handle
A HERETIC I AM
Jul 2013
#46