Libor administration handed to NYSE subsidiary


A new subsidiary of NYSE Euronext, the company that owns the New York Stock Exchange, will take over administration of the Libor benchmark interest rate after an independent commission appointed by the UK government picked it in a tendering process.

NYSE Euronext Rate Administration Limited will take over from the British Bankers' Association, "following a period of transition", according to a statement from the seven-member independent commission, which was set up in February under the leadersh

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