EU prepares for clampdown on Libor-style indexes

By John O’Donnell – “The international investigations underway into the manipulation of Libor have revealed yet another example of unacceptable behavior by banks,” Michel Barnier, the European commissioner in charge of regulation, said in a statement.

“The integrity of indices is vulnerable whenever discretion is exercised,” officials wrote in the report. “If an index is based on actual transaction or other verifiable data, the contributor of the data does not generally need to exercise discretion.” more>

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