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The LIBOR rates were constructed by the BBA phoning around the banks, and reporting an average of the numbers they came up with. How would the BoE "explicitly"
by al452 10y ago
The LIBOR rates were constructed by the BBA phoning around the banks, and reporting an average of the numbers they came up with. How would the BoE "explicitly" change that? By telling the BBA to lie? I don't imagine you'd find that "fair".
- cm2187 10y agoYeah but they could have requested the BBA not to publish individual contributions. I guess they thought it wouldn't have been enough.