Lack of governance to blame for Libor scandal, says IMF official
The revelation that at least one major bank had manipulated key Libor rates proves internal governance and risk management within financial institutions has been poor – and these kinds of failings could pose systemic risks, a senior official at the International Monetary Fund (IMF) has said.
Speaking at the FX Week USA conference in New York yesterday, José Viñals, financial counsellor and director in the monetary and capital markets department at the IMF, identified weak internal governance
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe
You are currently unable to print this content. Please contact customer services - www.fx-markets.com/static/contact-us to find out more.
You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@fx-markets.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@fx-markets.com
More on Financial Stability
RBI and Indian government boost banking sector as election nears
Central bank injects liquidity into banks as government recapitalises more state-owned lenders
Zimbabwe sets up interbank FX market with new dollar-pegged currency
Central bank governor pledges stability, but analyst says initiative is “cancerous”
PBoC sets up department to lead China's financial oversight
Central bank to devise ways to promote international use of yuan
Central banks adapt to faster markets, says BIS report
Fast pace of today’s markets means central banks must change approach to fulfil responsibilities
Trade wars to stay for decades, say panellists
The conflict is a struggle for dominance between the US and China, say economists at the 14th annual FX Week Asia event
Singapore aims to become e-FX hub for Asia, says Loh
Speaking at FX Week Asia, MAS’s Jacqueline Loh says Singapore wants more price discovery to take place
Chinese crypto research puts ethereum in first place
Ethereum ranked number one in public blockchains while bitcoin is ranked only 13th
BIS warns of virtual currency risks
CBDCs could have an impact on global financial stability, and large demand could force central banks into risky assets, new report says
