Never mind the gap: Icap’s rate tracks BBA Libor

GLOBALCAPITAL INTERNATIONAL LIMITED, a company

incorporated in England and Wales (company number 15236213),

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Never mind the gap: Icap’s rate tracks BBA Libor

ICAP, the interdealer broker, this week launched an alternative to the British Bankers’ Association dollar Libor setting, termed the New York Funding Rate. But if the first two days of its operation are anything to go by, there seems little reason to think it will displace Libor.

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