UK government appoints team to choose new Libor administrator

Martin Wheatley
Martin Wheatley

The UK government has named the seven members of a new committee that will choose a new administrator to replace the British Bankers' Association (BBA) in overseeing the Libor rate-setting process.

Headed by Baroness Sarah Hogg, the committee will choose a new administrator based on the Wheatley Review of Libor, which recommended stripping the BBA of its role and "comprehensively reforming" the benchmark rate. The government subsequently accepted the report in full, including criminal conviction

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