NY Fed to release Libor documents Friday, official says

The Federal Reserve Bank of New York will release on Friday documents showing it took prompt action four years ago to highlight problems with the benchmark interest rate known as Libor and to press for reform, an official at the regional US central bank said on Wednesday.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead Travelcafe
moneycontrol.com

Home » News » World News

Jul 12, 2012, 01.56 PM | Source: Reuters

NY Fed to release Libor documents Friday, official says

The Federal Reserve Bank of New York will release on Friday documents showing it took "prompt action" four years ago to highlight problems with the benchmark interest rate known as Libor and to press for reform, an official at the regional US central bank said on Wednesday.

Like this story, share it with millions of investors on M3

NY Fed to release Libor documents Friday, official says

The Federal Reserve Bank of New York will release on Friday documents showing it took "prompt action" four years ago to highlight problems with the benchmark interest rate known as Libor and to press for reform, an official at the regional US central bank said on Wednesday.

Post Your Comments

Share Cancel

NY Fed to release Libor documents Friday, official says
The Federal Reserve Bank of New York will release on Friday documents showing it took "prompt action" four years ago to highlight problems with the benchmark interest rate known as Libor and to press for reform, an official at the regional US central bank said on Wednesday.

As early as 2007, the New York Fed may have discussed problems with the setting of the London Interbank Offered Rate with Barclays Plc , the British bank currently at the center of the Libor scandal and investigation.

This week, US Rep. Randy Neugebauer requested transcripts related to such conversations between the Fed bank and Barclays. The New York Fed expects to provide on Friday even more documents than those requested by the congressman, according to a source familiar with the plan.

More than a dozen banks are under investigation by authorities in Europe, Japan and the United States over suspected rigging of the Libor, which is used in contracts worth trillions of dollars globally.

Some 16 banks contributed to the setting of dollar Libor rates in 2008, the period at the center of the investigations.

So far Barclays has been the only bank to admit any wrongdoing.

Ads by Google

Buy, Hold, Sell ? Hear it first on M3
NY Fed to release Libor documents Friday, official says

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login