Bloomberg View: Say Goodbye to Libor

Replacing the benchmark rate won’t be easy, but it is necessary
Illustration by Bloomberg View

Amid the investigations into manipulation of Libor, policymakers are coming around to the idea that the world needs a new benchmark to price hundreds of trillions of dollars in loans, securities, and derivatives. The challenge will be getting banks, investors, and borrowers to agree on what that benchmark should be.

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