BBA LIBOR Revision Results at FinGad.com

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Categorie: Derivatives
Submitted 5 months ago by

Denese

Well, the published results of the revision were an anti-climax. The BBA decision was not to change any of the panel banks, not to include any more banks, in fact to make no changes whatever except to provide an assurance that it would “strengthen its oversight “, but it gave no indication of what measures it would be able to put into place to achieve this. The statement on Friday followed a meeting of the association's independent Foreign Exchange and Money Markets Committee after a review conducted by John Ewan, who directs the setting of BBA Libor. A BBA spokesman could not expand on how the committee might strengthen its oversight or when such measures would be announced. Details would be released “in due course”. For a background on what the BBA LIBOR Rate is and how it is derived read the previous article. Fidelio Tata, derivatives strategist at RBS Greenwich Capital, said the BBA "would rather do nothing rather than make a change and find out later it was the wrong change". There is of course a great deal of criticism around this seeming lack of action but it has certainly taken the focus off t... More...

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