Libor
Libor rigger Hayes jailed for 14 years
Tom Hayes found guilty of manipulating Libor while at UBS and Citi
BoE unveils plans for enhanced data gathering
Central bank hopes improved data gathering will allow it to produce more accurate interest rate benchmarks, and inform financial and monetary policy work
FSB highlights ‘major steps’ toward reforming ‘Ibors’
Report finds administrators of Libor, Euribor and Tibor are making progress towards stronger interest rate benchmarks, with those in other jurisdictions advancing too
Carney: G-20 summit will be ‘watershed’ in TBTF efforts
BoE governor looks ahead to G-20 meeting next month at IMF seminar on finance and ethics; describes Libor riggers as ‘totally detached’ from the consequences of their actions
BIS paper investigates factors behind birth and death of benchmarks
Working paper studies ‘benchmark tipping’, finding that although many government rates are being displaced by private benchmarks, China and Brazil may develop new government bond futures markets
Fixing Libor needs more work, says NY Fed’s Dudley
NY Fed president says gaps in the Libor framework still need to be plugged; Fed and FSB working on solutions
Norway governor sees greater role for central bank in new 'Nibor' framework
Øystein Olsen sees greater powers for Norges Bank over the interbank rate framework, which has 'obvious weaknesses' and should be overhauled 'as soon as possible'
FSB issues guidelines for reform on interest rate benchmarks
Basel-based body calls for development of ‘nearly risk-free’ reference rates as alternative to scandal-hit benchmarks such as Libor
Bank of England joins with UK Treasury in sweeping financial markets review
Markets review initiated by government, which includes the central bank and Financial Conduct Authority, will look at conduct and transparency in financial markets
UK banks to fund ‘independent' body tasked with improving industry culture
Recommendations on conduct from former Bank of England MPC member ‘accepted' by seven major banks; new body to be launched later this year
Bank of Canada deputy says Libor and FX scandals have damaged trust
Bank of Canada deputy governor Tim Lane says problems of benchmark rigging must be addressed through mix of 'reform and replacement'
Bank of England has no evidence it 'condoned' FX market manipulation
UK central bank launched an investigation into allegations its own staff condoned foreign exchange market manipulation, months before the case came to light last week
Libor administration handed to NYSE subsidiary
Independent committee judges NYSE Euronext best placed to restore credibility in the tainted benchmark for interest rates; BBA will hand over after a ‘period of transition'
MAS benchmark proposals may reduce number of dealers in SGD market
MAS proposal on financial benchmark setting aims to hold banks more accountable by imposing criminal and civil punishment
Hong Kong launches renminbi Hibor fixing
New offshore benchmark rates to be produced starting next week; HKMA to provide oversight and surveillance of contributing banks' internal systems to ensure 'integrity' of submissions
HKMA and RBA voice fears over Iosco benchmark proposals
Responses to Iosco's Principles for Financial Benchmarks reveal concerns that many markets will not be able to support transactions-based rates; RBA questions 'lexicographic hierarchy'
IMF paper proposes ‘more ambitious’ benchmark design
Working paper calls current benchmark designs ‘a legacy from history’; proposes own design to better represent actual wholesale funding costs
Norwegian authorities chase benchmark rate reform
Financial Supervisory Authority of Norway proposes new framework for Norwegian Interbank Offered Rate-setting process; central bank looks to push envelope further
UK FSA finalises Libor regulations
Financial Services Authority produces final rules for regulating benchmarks, days before it will cease to exist; regulated firms will undergo compliance review by new watchdog in coming year
UK FSA admits response to Libor lowballing was too slow
Internal audit concludes Financial Services Authority should have moved faster, broadened its focus and been more ‘inquiring and challenging' about Libor fixing
UK government appoints team to choose new Libor administrator
Committee to be led by Baroness Hogg and will include Martin Wheatley of the FCA and Paul Fisher of the Bank of England; recommendations expected later this year
HKMA shores up Hibor-setting mechanisms
Package of measures aims to improve the transparency and robustness of the benchmark rate; UK bank fined $612 million by US and UK regulators over Libor rigging
BoJ research warns of unintended policy consequences from Libor
Working paper says reference rates such as Libor can provide valuable information to markets but may also skew central bank policy-making by adding noise to credit spreads
BBA delays phase-out of some Libor rates after complaints
Less-used rates will be produced until May 2013