Reuters: Tim Geithner Now Implicated in LIBOR ScandalSubmitted by Bob-45 on Fri, 07/13/2012 - 11:09
Bank of England says took Geithner Libor views on board
By David Milliken and Timothy Ahmann
Fri Jul 13, 2012
(Reuters) - The Bank of England confirmed on Friday it had received U.S. recommendations to overhaul the Libor benchmark at the heart of a global rate-rigging scandal, saying it had passed them on to the banking group responsible for the rate.
Documents obtained by Reuters earlier on Friday showed that U.S. Treasury Secretary Timothy Geithner pressed the British central bank in June 2008 to make changes to the way that the widely used interest rate benchmark was set.
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