Banking & Finance
NYSE Euronext Gets Chance to Clean Up Libor
July 9, 2013 7:25 am
Last Updated: April 28, 2020 2:58 am
Source: Thinkstock
Several banks have already paid about $2.5 billion in penalties to U.S. and U.K. regulators for their part in the rate manipulation.
NYSE Euronext itself is shortly to complete its sale to InterContinentalExchange Inc. (NYSE: ICE). The deal cost ICE about $10 billion in cash and stock and is awaiting final approval from regulators.
Can we expect a bit more transparency in the way that Libor is set? Probably not, but we should expect no less than a daily report that may disguise the actual banks involved, but that specifies the rates the banks claim they are paying. With so many eyes looking at those numbers, no bank is likely to risk cheating.
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