European Benchmark Regulation - Sufficient to Prevent a LIBOR Like Crisis Repeat?
The ink has not yet dried on the drafts of European Benchmark Regulation (Regulation) and while the markets and the industry are trying to gauge the effect of this all encompassing regulation, one thing seems increasingly evident - the benchmark regulatory practices across the globe converging towards the same destination - of Restoring Investor Confidence. However, it may be noted that the objective of restoring investor confidence is only the first step - which in turn lead
Bank of England’s Risk-Free Reference Rates - In the Quest of LIBOR Replacement
Recap For the better half of this decade, one could not help but hear and acknowledge the growing phenomenon of Financial Benchmark Reforms - an aftermath of manipulation and false reporting of global interest rate benchmarks. From the Wheatley Review in 2008 to the latest European Benchmark Regulation, regulators, administrators and market participants are engaging actively to restore investor confidence into the tainted benchmarks. Much of this work is in line with the Fina
