Why and How Should the Libor Be Reformed?

Rosa Abrantes-Metz, Jul 17, 2012

Over the last year, large-scale investigations have been launched around the world on allegations of possible collusion and manipulation of the London Interbank Offered Rate (“Libor”). Late in June this year, Barclays agreed to pay $452 million dollars on its conduct related to these allegations, in a settlement involving U.S. and U.K. regulatory agencies.

The Libor has been called “the world’s most important number.” It is the prima