NY Fed failed to share Libor low-balling fears with BoE, says King

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The governor of the Bank of England (BoE), Mervyn King, today (July 17) told a parliamentary committee that the Federal Reserve Bank of New York had not passed on anecdotal evidence that Barclays Bank was submitting false Libor rates.

In a series of emails released by the New York Fed recently, it was revealed that a Barclays employee had told the central bank what was going on. This information was shared with other US officials, and the British Bankers Association (BBA), which was responsible

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