Search
 

Gensler Expresses Renewed Doubt Over Libor Integrity

Libor and similar benchmarks unsustainable in the long run,' CFTC head says.

By Liam Vaughan, Bloomberg | Updated on April 23, 2013

U.S. Commodity Futures Trading Commission Chairman Gary Gensler raised fresh doubt about Libor’s integrity as a market benchmark, saying banks’ reported borrowing costs remain distorted.

On 85 percent of occasions in 2012, the 18 firms that contribute to dollar Libor left the rate at which they said they could borrow in the interbank market unchanged, even as the cost of insuring their debt against default using credit-default swaps soared, Gensler, 55, said in a speech at the City Week conference in London today.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2024 ALM Global, LLC. All Rights Reserved.