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That means banks are largely making estimates for key benchmarks like the three-month and the one-year Libor.
The Barclays case centers on key benchmarks, including the London interbank offered rate, or Libor, and the Euro interbank offered rate, or Euribor.
The inquiry centers on key benchmarks like the London interbank offered rate, or Libor, which underpins trillions of dollars of financial products.
If these key benchmarks are not based on observable transactions, I believe their integrity will continue to be subject to question".
"If these key benchmarks are based on observable transactions, borrowers, lenders and derivatives users around the globe all benefit," he said.
The inquiry, which has ensnared more than a dozen big banks, is focused on key benchmarks like the London interbank offered rate, or Libor.
Similar(36)
The rate, a key benchmark for short-term borrowing costs in the economy, is now 4percentt.
The troubles center on a key benchmark known as the London interbank offered rate, or Libor.
The EU is said to be ready to impose record-breaking fines for alleged collusion for rigging key benchmark rates.
The fines are the latest to be levied on banks and financial firms for manipulating key benchmark rates.
The bank's investigation showed that its wrongdoing is mainly centered on another key benchmark, the Tokyo interbank offered rate.
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