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FSA Managing Director Martin Wheatley says Libor is no longer "fit for purpose" as he lays out...
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Friday, August 10, 2012, 6:03 AM ETFSA Managing Director Martin Wheatley says Libor is no longer "fit for purpose" as he lays out what his review of the rate will look at. This includes governance, possible alternatives, and basing Libor calculations more on trades rather than judgements. Wheatley adds that other benchmarks, such as for gold, stocks and oil, are also being reviewed and could face tighter supervision.
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