King Defends BOE Libor Role After Scrutiny on Geithner Memo
This article is for subscribers only.
Bank of England Governor Mervyn King said that he only became aware of Libor wrongdoing two weeks ago and that a memo from Timothy F. Geithner in 2008 didn’t highlight malpractice.
King told Parliament’s Treasury Committee today in London that the e-mail sent by the then president of the Federal Reserve Bank of New York included recommendations rather than allegations at a time when global regulators were expressing concern on the quality of the borrowing benchmark.