Will The Wheatley Recommendations Fix LIBOR?

Rosa Abrantes-Metz, David Evans, Nov 28, 2012

The London Interbank Offering Rate has been called “the world’s most important number.” It is the primary benchmark for global short-term interest rates. LIBOR is used as the basis for settlement of interest rate contracts on many of the world’s major futures and options exchanges as well as most over-the-counter and lending transactions. The notional value of contracts, instruments, and transactions referencing it significan