Downing Street Says

» Tuesday, July 9, 2013

Libor

Asked whether the ?loss? of Libor to New York is just the beginning of French, Germans and US ?getting their hands? on public services, the PMS said he does not agree that this is what is happening. He said that the government has put measures in place, including a criminal offence for making misleading statements about benchmark prices. An independent committee has looked at this and the New York Stock Exchange has been considered the best placed to take it forward.

Asked if the PM regrets that the New York Stock Exchange has been chosen, the PMS said that the key thing is that international credibility is restored. Following a tender process, the New York Stock Exchange best met the criteria.

Pushed on whether this is the start of the ?hijacking? of more services by the French, US and Germans, the PMS said that this is part of the government?s determination to put strong, stable regulation in place. The PMS also said that he would not put it in those terms.
Asked whether we have given up Libor for something else that has not yet been announced, the PMS said that this is about Libor.

No Comments »

No comments yet.

RSS feed for comments on this post.

Post a public comment

Name (required)
E-mail (required)
(You must give an email address, but it will not be displayed to the public.)
Website
(You may give your website, and it will be displayed to the public.)

Comments:

This is not a way of contacting the Prime Minister. If you would like to contact the Prime Minister, go to the 10 Downing Street official site.

Privacy note: Shortly after posting, your name and comment will be displayed on the site. This means that people searching for your name on the Internet will be able to find and read your comment.

Original PMOS briefings are © Crown Copyright. Crown Copyright material is reproduced with the permission of the Controller of HMSO and the Queen's Printer for Scotland. Click-use licence number C02W0004089. Material is reproduced from the original 10 Downing Street source, but may not be the most up-to-date version of the briefings, which might be revised at the original source. Users should check with the original source in case of revisions. Comments are © Copyright contributors. Everything else is © Copyright Downing Street Says.

July 2013

Mon

Tue

Wed

Thu

Fri

Sat

Sun

« Jun

Aug »

» Tuesday, July 9, 2013

Libor

No Comments »

Post a public comment

Search

Supported by

Recent Briefings

Archives

Links

Syndicate (RSS/XML)

Credits

Enquiries