The Bank of England (BoE) has warned that the reliance on the Libor interest rate benchmark when setting mortgages, credit card loans and other global contracts could be a threat to the financial system.
Minutes from the Bank's 20 September financial policy committee (FPC) meeting, published on Tuesday, show officials raising concerns over the continued use of Libor to underpin $350trn in contracts, despite...
'Following the letter, but not the spirit, of the rules'
Tech giant still stands out
Reduces chances of rate hike
Designed to park short-term cash