Bank Of England Emails Show No Libor Warning To NY Fed

Law360, New York (July 20, 2012, 2:01 PM EDT) -- Officials from the Federal Reserve Bank of New York gave no indication that they were concerned about potential rate-fixing by banks during the 2008 financial crisis, according to a new batch of emails released by the Bank of England Friday.

The emails show that the New York Fed, the Bank of England and the British Bankers' Association engaged in a series of discussions about potential problems with the Libor during the spring of 2008. But the 80 pages of emails contained no firm warning of rate-rigging...
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