Thursday, Apr 17, 2008
More on the LIBOR 'fiddling' by banks.
Bloomberg: Money-Market Rates May Rise on Threat to Ban Banks From Libor
Money-market rates may rise after the British Bankers' Association threatened to ban members that deliberately understate their borrowing costs.
Participants have complained that banks may be submitting inaccurate information amid the global credit squeeze, Angela Knight, chief executive officer of the London-based association, said yesterday. The BBA will exclude banks that give misleading quotes and plans to speed up a review of the daily ``fixing'' process by which borrowing costs are determined, it said.
Posted by tyrellcorporation @ 10:23 AM (222 views) Add Comment
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