CFTC, Bloomberg Push Libor Alternatives

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Following the Libor price-fixing scandal, Commodity Futures Trading Commission chairman Gary Gensler and Bloomberg president and chief executive Dan Doctoroff have both called for alternatives to replace the existing Libor methodology with a more transparent and accurate benchmark.

“The Barclays case demonstrates that Libor has become more vulnerable to misconduct. It’s time for a new or revised benchmark… to restore the confidence of Americans that the rates at which they borrow and lend money

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