'Broken' Libor can be fixed says UK watchdog

euronews (in English)
euronews (in English)
  • 12 years ago
Britain's top financial watchdog says it will fix the Libor rate setting system rather than scrap it.

Libor was hit by scandal when it was discovered some banks had giving distorted the information to manipulate the rate - which is used to determine the interest charged on loans to companies and individuals.

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http://www.euronews.net/

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