Proposed Libor Fixes May Open Door To New Benchmark

Law360, New York (September 28, 2012, 6:14 PM EDT) -- The head of a U.K. panel put forward proposals Friday aimed at fixing the "broken" London Interbank Offered Rate following a rigging scandal, but observers say the short-term measures may also push banks and investors to find some new, more concrete alternative to the widely used benchmark.

Ever since Barclays PLC agreed in June to pay around $450 million to settle claims that it allegedly submitted artificially low borrowing costs to the panel that set Libor, regulators have searched for a new rate on which to...
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