NYSE takes control of LIBOR setting, following collusion from leading banks

Wednesday, July 10th 2013 - 05:50 UTC

Full article 4 comments

The owner of the New York Stock Exchange is set to take control of a key scandal-hit bank interest rate. NYSE Euronext has won the contract for setting the London Inter-bank Offered Rate (Libor), a government-backed committee announced. Libor is used to set trillions of dollars of financial contracts. Read full article

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GeoffWard2
I have to agree that THE CENTRE FOR ROGUE TRADERS, LONDON (CRTL) is not to be trusted with Libor.
I have absolute faith that transferring it to New York will return ethical credibility, instantly.
Jul 10th, 2013 - 10:00 am - Link - Report abuse 0
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ChrisR
1 GeoffWard2

On the basis that you mean what it says in your post:
I always thought you were pretty savvy!
Jul 10th, 2013 - 11:42 am - Link - Report abuse 0
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GeoffWard2
Yes, I believe that LIBOR had no influence on the value of my money whilst I was in England and elsewhere.
I also believe that if you say the right thing, you can stop fairies from dying.
Jul 10th, 2013 - 12:59 pm - Link - Report abuse 0
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Think
TWIMC

1)At the moment, LIBOR is calculated by Thomson Reuters for the British Bankers' Association (BBA), based on estimates received from 16 major international banks in London……..

2) In the future, LIBOR will be calculated by estimates received from those same banks, as well as by using transaction data monitored by NYSE Euronext……

3) The new rate-setting body, ”NYSE Euronext Rate Administration”, will be based in the UK and regulated by the Financial Conduct Authority (FCA).

IN SHORT….:
”Same Shiat, different smell…..”
Or
”We don’t call them ”Colonies” anymore.
We call them ”British Overseas Territories”…..”
Jul 10th, 2013 - 08:09 pm - Link - Report abuse 0
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