Central bankers and regulators will likely hold a meeting to decide the future of the London interbank offered rate (LIBOR), which is a benchmark or reference rate for hundreds of trillions of dollars in loans.
The meeting will be held on September 9, reports said citing a letter sent by Bank of England Governor Mervyn King to the members of the Economic Consultative Committee, which he heads.
Bank of Canada Governor Mark Carney, who is also chairman of the Financial Stability Board, said FSB's Steering Committee will consider possible alternatives to LIBOR.
by RTT Staff Writer
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