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Barclays Share News (BARC)
Share News for Barclays (BARC)
| Share Price: 326.80 | Bid: 326.65 | Ask: 326.80 | Change: 0.00 (0.00%) |  | ||||||
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Danish c.bank says unrealistic to scrap Cibor
Fri, 3rd Aug 2012 15:56
COPENHAGEN, Aug 3 (Reuters) - Denmark's central bank said on Friday that it would not be reali
The Cibor has been cast in doubt after the Libor interest rate rigging scandal in Britain, and Barclays Plc this week pulled out as a contributor to the Cibor which continues with seven rate-setting banks.
'Given the large amount of outstanding contracts, replacing Cibor is not realistic,' the Danish central bank, the Nationalbank, said in a brief email statement.
'Conditional on sufficient turnover, we are still of the opinion that Cita would be a useful supplement to Cibor,' the bank said. 'Other relevant supplements may also be considered.'
(Reporting by John Acher and Ole Mikkelsen) Keywords: DENMARK CIBOR/CBANK
(john.acher@thomsonreuters.com)(+45 2630 9650)(Reuters Messaging: john.acher.thomsonreuters.com@reuters.net)
COPYRIGHT
Copyright Thomson Reuters 2012. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
COPENHAGEN, Aug 3 (Reuters) - Denmark's central bank said on Friday that it would not be reali
stic to abandon the Copenhagen Interbank Offered Rate (CIBOR) because many loan contracts are based on it.
The Cibor has been cast in doubt after the Libor interest rate rigging scandal in Britain, and Barclays Plc this week pulled out as a contributor to the Cibor which continues with seven rate-setting banks.
'Given the large amount of outstanding contracts, replacing Cibor is not realistic,' the Danish central bank, the Nationalbank, said in a brief email statement.
'Conditional on sufficient turnover, we are still of the opinion that Cita would be a useful supplement to Cibor,' the bank said. 'Other relevant supplements may also be considered.'
(Reporting by John Acher and Ole Mikkelsen) Keywords: DENMARK CIBOR/CBANK
(john.acher@thomsonreuters.com)(+45 2630 9650)(Reuters Messaging: john.acher.thomsonreuters.com@reuters.net)
COPYRIGHT
Copyright Thomson Reuters 2012. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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