Other benchmark international obligations, such as the Convention on the Rights of the Child, are also not directly part of Australian law.
Sergio P. Ermotti, chief executive of UBS, said that the bank was cooperating with authorities and conducting its own internal review related to Libor and other benchmark rates.
Mr. Ermotti of UBS said the bank was in the process of conducting an internal review related to Libor and other benchmark rates.
Both firms are under investigation in connection with the manipulation of the London interbank offered rate, or Libor, and other benchmark rates.
Second, why have Libor and other benchmark rates typically not been aligned, since 2008, with the borrowing rates that would be implied by foreign exchange markets?
Other benchmark machines catching the attention of collectors include the Kawasaki Mach III introduced in 1969, and the 1972 Suzuki GT750, both powered by two-stroke three-cylinder engines.
American and British authorities are considering the prosecution of traders implicated in the scandal, and European officials want to write new legislation to make the manipulation of Libor and other benchmark rates a criminal offense.
In December, the bank agreed to pay $1.5 billion in fines for its role in a scheme, which involved many banks and brokers, to manipulate the London interbank offered rate, or Libor, and other benchmark interest rates.
Regulators have been looking into accusations that traders rigged the so-called WM/Reuters rates and other benchmark foreign exchange rates used by fund managers to calculate the value of their holdings and by index providers like the FTSE Group.
One solution might be to use other benchmark rates — like the overnight index swaps rate, which is tied to the rate at which banks lend to one another overnight — that are based on real transactions.
REUTERS Fine Expected for Rabobank Over Rate Manipulation | The Dutch lender Rabobank is expected to face a fine of almost $1 billion "for the alleged manipulation of Libor and other benchmark interbank lending rates as early as next week," The Financial Times reports.
