The British Bankers' Association (BBA) has issued a statement saying it will support the conclusions of the Wheatley review if the investigation recommends the association be stripped of its power as Libor rate-setter. The move comes following a news report stating the BBA had already voted in favour of relinquishing its role.
The UK government on July 2 commissioned a review of Libor to be headed by Martin Wheatley, the chief executive-designate of the UK's Financial Conduct Authority after Bar
- Is the pursuit of a common accounting standard for monetary gold a fool’s errand?
- European Court of Justice overrules ECB on French banks’ leverage
- Malaysian central bank reshuffles senior staff
- FSB launches crypto asset monitoring framework
- Communication strategies too weak to ‘pierce veil of inattention’ – research