UK Will Examine New Methods To Set Libor

Law360, New York (July 30, 2012, 2:11 PM EDT) -- The U.K. said Monday that a high-level review of the process for setting Libor will include a discussion of whether regulators should have more power over the rate-setting process, as the rate-rigging scandal focused on the key interest rate continues to unfold.

The probe, led by Martin Wheatley, managing director of the Financial Services Authority, will examine whether the process for setting the London Interbank Offer Rate, or Libor, should be supervised by U.K. regulators, and if the process should be altered to make it less...
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