Fed’s Quarles critical of opaque Libor data
ARRC chair Sandra O’Connor also questions IBA transparency
Federal Reserve vice-chairman Randal Quarles has expressed concern that financial markets might not be fully aware of how few transactions are used to make up the US dollar Libor rate on a daily basis due to a lack of transparency around those trades.
Giving a speech via a pre-recorded video at an industry event hosted by the Federal Reserve Bank of New York on July 19, Quarles shared data
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