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DTCC in the News

Tom Newton, RISK | November 1, 2012


Since US and UK regulators announced the June 27 settlement of investigations into Libor rigging at Barclays, commentators have been predicting the death of the benchmark – but it is not easy to replace an interest rate referenced by an estimated $300 trillion in financial products.

“Putting aside the terrible way Libor is fixed – by asking dumb questions to banks – it’s actually a marvellous construction of a family of derivatives and cash instru - ments that work so well together. It’s a wonderful foundation for completing markets,” says Darrell Duffie, professor of finance at Stanford University’s Graduate School of Business in California

Download the Congressional Testimony: Libor 2.0: The Runners and the Riders