Libor governance to be put out to tender
The FSA confirmed today that the BBA will be stripped of its Libor powers
Responsibility for the governance and administration of Libor is set to be put out to tender, Martin Wheatley, managing director of the UK Financial Services Authority (FSA) said today. He confirmed that the British Bankers' Association (BBA) will no longer be part of the Libor governance process.
In a speech at the Mansion House in London this morning, Wheatley presented the findings of his review on Libor – the rate at which banks lend to one another.
The consultation comes after Barclays was
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