Global Business & Emerging Markets

The NY Fed made recommendations on Libor to British regulators in 2008.

Emergency loans could total $123 bln; governments aim for direct loans.

Companies could shun syndicated loans, whose rates are typically pegged to Libor.

Regulator would oversee 25 biggest banks and report to the ECB.

JPMorgan, BlackRock shut European funds to new investments after ECB rate cut.

Bank stops accepting new investors and money in five funds after the ECBs rate cut.