Duffie: regulators may push swaps market off Libor
Even reformed Libor no longer a viable reference rate, says FSB adviser
Regulators may need to act if banks are to shift liquidity in the swaps market away from Libor towards a reference rate based on overnight lending rates, according to a senior adviser to the Financial Stability Board (FSB) on benchmark reform. Regulators insist a change is needed, but rules requiring it are not on the cards – leaving open the question of how any switch would be engineered.
Speakin
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