Reacting to the criticism of the Libor benchmark in these volatile times (see earlier post) , the British Banker’s Association has put forward a series of recommendations for consideration by the market. Main issue is that the current methodology for Libor is based on quotes that the participating banks say they could transact on in the market, rather than actually have transacted.…
Patrick Young in the FT – suggesting that more transparency over how a rating is derived, rather than more regulation, is the key to restoring confidence in the ratings agencies. Click here to read more.…
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