FSB highlights ‘major steps’ toward reforming ‘Ibors’
Report finds administrators of Libor, Euribor and Tibor are making progress
The administrators of the three most widely used interest rate benchmarks have taken "major steps" toward strengthening them, while also developing other 'near risk-free' reference rates, according to the Financial Stability Board (FSB).
Last year, the Official Sector Steering Group, co-chaired by Martin Wheatley, chief executive of the UK's Financial Conduct Authority, and Jerome Powell, a Federal Reserve governor, developed a set of recommendations for reforming the benchmarks.
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