OTTAWA, July 18 (Reuters) - Bank of Canada Governor Mark Carney said on Wednesday the facts th
at have emerged around the setting of the benchmark Libor interest rate are 'deeply troubling.'
'It's not just a question of the structure of the index, which (U.S. Federal Reserve) Chairman Bernanke rightly described yesterday as structurally flawed. But it's active, conscious, repeated manipulation of that index,' Carney told reporters.
Carney chairs the Financial Stability Board, an international task force that seeks to set global standards for banks, insurers and financial markets.
(Reporting by Randall Palmer, writing by Jennifer Kwan; Editing by Janet Guttsman) Keywords: BANKING LIBOR/CARNEY
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.
Datafeed and UK data supplied by NETbuilder and Interactive Data.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk!
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.