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King Defends BOE Libor Role After Scrutiny on Geithner Memo

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.