Benchmarks such as Libor (London Interbank Offered Rate) and Euribor (Euro Interbank Offered Rate) have been the centre of controversy for the last few years, landing banks with fines and brokers in hot water with regulators.
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The new rules are a step forward in helping to rebuild confidence in financial markets in the European Union.
Barclays was fined $450 million in June 2012 by US and UK regulators in connection with alleged Libor and Euribor violations. Several ... (read more)