Libor gets an overhaul

- By FX Markets Staff
- @FXMarkets_
- 16 Jun 2008

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The trade body announced at its annual conference on June 10 that amid tighter scrutiny of the 16 contributor banks, any discrepancies in rates must be justified.

It also announced wider membership of the Foreign Exchange and Money Markets Committee, which oversees the process, and plans to increase the number of contributors to some rate-setting panels.

The changes come on the back of BBA research, amid concerns Libor does not reflect conditions in the US (FX Week, May 19). The BBA also called

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