Lack of governance to blame for Libor scandal, says IMF official

Warning sign against cloud backdrop

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 -, or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: