BoE's Carney gives no quarter in preparing Libor's demise

Governor of the Bank of England Mark Carney on Thursday urged markets to adopt alternative benchmarks to Libor like Sonia, saying that Libor was "overly reliant on expert judgment rather than actual transactions".

  • By Costas Mourselas
  • 24 May 2018

"Libor is a prime example of critical hard (market) infrastructure that has not kept up with market developments," he said in a speech to the 2018 Markets forum at Bloomberg's headquarters in London.

"Libor is meant to measure the short-term unsecured funding costs of banks. But the reality is ...

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