House Lawmaker Demands More Libor Info From NY Fed

Law360, New York (July 23, 2012, 10:51 PM EDT) -- The head of the House Financial Services Committee's oversight subcommittee on Monday pressed the Federal Reserve Bank of New York for more information on its role in London Interbank Offered Rate scandal, focusing on how it handled evidence that banks weren't posting honest Libor rates.

In a letter to New York Fed President William Dudley, Rep. Randy Neugebauer, R-Texas, said that while information previously provided to the subcommittee showed that the New York Fed was aware of the alleged rate-rigging as early as 2008 and encouraged...
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