Banks could be forced into Euribor submission

Banks could be forced to submit information for the Euro Interbank Offered Rate (Euribor) under new legislation, European Commissioner Michel Barnier said today.

The new laws, which the European Commission will propose in the second quarter of 2013, will attempt to bolster the integrity of Europe's interbank benchmarks and draw a line under the rate-setting scandals that have surfaced across the globe.

Barnier today insisted the benchmarks were in the interests of the market and the general publ