Regulators Eyeing Libor Reform, Treasury Official Says

Law360, New York (December 3, 2012, 11:15 PM EST) -- Federal regulators are considering methods to reform the London Interbank Overnight Rate that has been the subject of recent controversy along with alternatives after lawmakers proposed a U.S.-based interest rate index, according to a Friday letter by a U.S. Department of the Treasury official.

In a response to lawmakers including Sens. Chuck Grassley, R-Iowa, and Mark Kirk, R-Ill., Treasury's Assistant Secretary for Legislative Affairs Alastair Fitzpayne said that regulators are considering the reform measures along with investigations into the matter of banks allegedly rigging the Libor,...
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