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PR Newswire
13-05-2013, 04:28 PM
Well, there is always a legacy to deal with for reform.
SIBOR is also survey-based, from 12 participating banks IIRC. Will SIBOR move to transaction-based?
Libor may be replaced by a dual-track system
LONDON – A dual-track system, including survey-based lending rates along with transaction-linked indices, is likely to replace scandal-hit London interbank lending rate Libor as soon as next year, the Financial Times reported.
The new system would provide continuity for holders of US$350 trillion (S$434 trillion) in existing contracts that reference Libor while also paving the way for a new benchmark tied more closely to objective data, Mr Martin Wheatley, chief executive of Britain’s Financial Conduct Authority who is leading efforts to reform the benchmark, told the FT.
http://www.todayonline.com/business/libo...ack-system
SIBOR is also survey-based, from 12 participating banks IIRC. Will SIBOR move to transaction-based?
Libor may be replaced by a dual-track system
LONDON – A dual-track system, including survey-based lending rates along with transaction-linked indices, is likely to replace scandal-hit London interbank lending rate Libor as soon as next year, the Financial Times reported.
The new system would provide continuity for holders of US$350 trillion (S$434 trillion) in existing contracts that reference Libor while also paving the way for a new benchmark tied more closely to objective data, Mr Martin Wheatley, chief executive of Britain’s Financial Conduct Authority who is leading efforts to reform the benchmark, told the FT.
http://www.todayonline.com/business/libo...ack-system
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