Article

CBI responds to Wheatley LIBOR discussion paper

The CBI responded to the publication of a discussion paper on the future of LIBOR, as part of the review by Martin Wheatley, Managing Director of the FSA. 

Dr Neil Bentley, CBI Deputy Director-General, said:

“The Review’s initial thinking on the LIBOR issues is a sensible direction to take in order to restore confidence in this area and in our banking system more widely.

“We welcome the focus on moving towards more transaction-based data for setting benchmark rates, improving internal governance within the banks, and strengthening the accountability of individuals.”

Notes to Editors:
The CBI is the UK's leading business organisation, speaking for some 240,000 businesses that together employ around a third of the private sector workforce. With offices across the UK as well as representation in Brussels, Washington, Beijing and Delhi the CBI communicates the British business voice around the world.

The CBI Annual Conference 2012, Forging a New Economic Future, will take place on Monday 19 November at the Grosvenor House Hotel in London, featuring an exceptional line up of business and political speakers. More details can be found at: /events/cbi-annual-conference-2012/