London verliert Kontrolle über LIBORThe search by the British authorities for a new owner for Libor (London Interbank Offered Rate) came to an end on 9 July 2013. The UK Treasury announced that NYSE Euronext, the US company that runs the New York Stock Exchange, is to take over administration of Libor from the British Bankers Association (BBA) subject to approval by the Financial Conduct Authority (FCA), and following a period of transition expected to last into early 2014. Janus Henderson Investors | 10.07.2013 16:29 Uhr
The British authorities began looking for a new owner for Libor last year after concluding that a bank-lobbying group should not be responsible for administrating a key benchmark. The choice of an American company to oversee Libor and restore confidence in the rates seems significant, since the US regulators were its fiercest critics. However, while the ownership of Libor has changed continents, regulatory responsibility still remains with the UK.
* British Banking Association, BBA: a trade body for the UK banking and financial services sector whose members are some of the world’s biggest banks. BBA represents 223 banking members from 60 countries.