Spotting manipulation tough
Source: Bloomberg News |
July 25, 2012, Wednesday
|
Print Edition
Print Edition
TRYING to spot whether the Libor interest rate was being manipulated by tiny amounts would be "prohibitively expensive" and intrusive, Britain's financial watchdog said yesterday.
Adair Turner, chairman of Britain's Financial Services Authority, said there was a debate to be had on whether regulators should have spotted the rigging of Libor during the 2007-09 financial crisis.
But spotting the rigging would have been difficult, Turner said.
Adair Turner, chairman of Britain's Financial Services Authority, said there was a debate to be had on whether regulators should have spotted the rigging of Libor during the 2007-09 financial crisis.
But spotting the rigging would have been difficult, Turner said.
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