Libor 2.0: The runners and riders

Libor 2.0: the runners and riders

david-clark
David Clark

Since US and UK regulators announced the June 27 settlement of investigations into Libor rigging at Barclays, commentators have been predicting the death of the benchmark – but it is not easy to replace an interest rate referenced by an estimated $300 trillion in financial products. “Putting aside the terrible way Libor is fixed – by asking dumb questions to banks – it’s actually a marvellous construction of a family of derivatives and cash instruments that work

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