Insight: Fed knew of Libor issue in 2007-08, proposed reforms

Quicklink submitted by Sheila Samples     Permalink
Related Topic(s): ; ; ; , Add Tags

View Ratings | Rate It

opednews.com

Become a Fan
  (41 fans)
Image uploaded from a quicklink Tim Johnson, who chairs the Senate Banking Committee, said on Tuesday he was concerned by the allegations of the potential "widespread manipulation" of Libor and had directed his staff to schedule briefings on the issue. Johnson also said the committee planned to ask Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben Bernanke about the allegations at hearings later this month. Barclays last month agreed to pay $453 million to British and U.S. authorities to settle allegations that it manipulated Libor, a series of rates set daily by a group of international banks in London across various currencies.

Read the rest of the story HERE:

At www.reuters.com

- Advertisement -
- Advertisement -

 

Comments

The time limit for entering new comments on this Quicklink has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

Comments: Expand   Shrink   Hide  
No comments