Subscribe to this blog's feed... admits the BBA.
``We have not run away or hidden from the need for reform or the need for review'' of ``serious issues'' in the U.K. financial-services industry, British Bankers' Association Chief Executive Officer Angela Knight said at a hearing of a parliamentary committee in London today.'' The BBA is set to announce the results of its most far-reaching review of the way it sets the London interbank offered rate in a decade on May 30.(via Alea)
This is nothing new, of course - see the original suspicions of Libor and the BBA's first reform attempt - also the proposed replacement, NYFR. (presumably pronounced "knifer")
Also today - bad legal news for Wachovia over its ARS sales, and MBIA calls in forensics...
