NYSE Euronext To Oversee Libor Amid Rigging Probe

Law360, New York (July 9, 2013, 11:41 AM EDT) -- The scandal-plagued London Interbank Offered Rate will soon be administered by NYSE Euronext, the parent company of the New York Stock Exchange, placing the benchmark interest rate under new stewardship as global regulators pursue rigging claims against top banks, U.K. officials announced Tuesday.

The Hogg Tendering Advisory Committee, led by U.K. Financial Reporting Council Chairman Baroness Sarah Hogg, said a subsidiary of NYSE Euronext would take over the administration of Libor from the British Bankers' Association. The transfer should be completed by early 2014, the committee...
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