Brussels, 25/09/2012 (Agence Europe) - At a public hearing on the LIBOR scandal organised by the European Parliament's Economic and Monetary Affairs Committee on Monday 24 September 2012, US and EU regulators said they favoured the idea of introducing rules to force bodies that produce financial benchmarks to use real data in their calculations, where possible.
“I believe it is critical that benchmark rates rely upon observable transactions”, said the head of the US derivatives...