The British Bankers' Association is reportedly close to giving up the responsibility for setting...

|By:, SA News Editor

The British Bankers' Association is reportedly close to giving up the responsibility for setting the London Interbank Offered Rate after the group's council cleared the path. The decision by the BBA comes in front of Friday's release of a government-commissioned study of the unregulated trade group. If the move is officially cleared, British or international regulators could be in charge of overseeing the closely-watched rate.