Linking Libor To Real Data Could End Benchmark Rate's Reign

By Evan Weinberger (April 16, 2013, 7:30 PM EDT) -- International regulators on Tuesday called for anchoring the scandal-plagued London interbank offered rate and other benchmark interest rates in real transactions, a move experts say means Libor could be replaced as the global financial system's key benchmark rate, since a slowdown in interbank lending has made it reliant on estimates.

The International Organization of Securities Commissions released a consultation paper outlining principles for setting financial benchmarks, with its key position being that benchmark interest rates should be set using "observable transactions entered into at arm's length."

But the paper also says regulators and benchmark administrators should address the possibility that a...

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