Over all, the new figures are in line with a trend often seen when the data is revised: "Benchmark revisions are in the direction of the inflection," said Robert Barbera, the chief economist of ITG.
Another prominent regulator, Gary Gensler, chairman of the Commodity Futures Trading Commission in the United States, said this week that "it is time for a new or revised benchmark".
For any new or revised benchmark to be broadly accepted by the financial markets, borrowers, lenders and hedgers who rely on Libor would benefit from a process for an orderly transition.
It's time for a new or revised benchmark — an emperor clothed in actual, observable market transactions — to restore the confidence of Americans that the rates at which they borrow and lend money are set honestly and transparently.
"It is time for a new or revised benchmark – a healthy benchmark anchored in actual, observable market transactions – to restore the confidence of people around the globe that the rates at which they borrow and lend money and hedge interest rates are set honestly and transparently," Mr. Gensler said in prepared remarks that he delivered via video from Washington.
"It is time for a new or revised benchmark — a healthy benchmark anchored in actual, observable market transactions — to restore the confidence of people around the globe that the rates at which they borrow and lend money and hedge interest rates are set honestly and transparently," Mr. Gensler said.
CFTC Chairman Gary Gensler has been calling for a revised benchmark that would be based on observable transactions, to limit the opportunity for manipulation.
"It is time for a new or revised benchmark - a healthy benchmark anchored in actual, observable market transactions," Gary Gensler, the chairman of the U.S. Commodity Futures Trading Commission that fined Barclays $200 million, told members of the European Parliament.
"We're not at all satisfied," said Jim Stergios, executive director of the Pioneer Institute, a Boston nonprofit group that helped Massachusetts revise its state benchmarks in the 1990s.
The number of people living in extreme poverty is likely to fall for the first time below 10% of the world's population in 2015, the World Bank said on Sunday as it revised its benchmark for measuring the problem.
If an ILEC to which a CLEC benchmarks its rates, pursuant to this section, lowers the rate to which a CLEC benchmarks, the CLEC must revise its rates to the lower level within 15 days of the effective date of the lowered ILEC rate.
