LIBOR
The British Bankers’ Association rejected most of the main ideas for changing the way LIBOR is calculated.
In conclusion, all contributing banks are confident that their submissions reflect their perception of their true costs of borrowing, at the time at which they submitted their rates. They are therefore prepared to continue with their individual quotes being published with the day’s LIBOR rates. As there was no real support for any of the proposals to limit stigmatisation, the FX & MM Committee has therefore decided to retain the existing process.