'Discourage', obviously, is distinct from 'prevent'. But those checks were enhanced in the wake of the scandal, and it is based in large part on the strength of

'Discourage', obviously, is distinct from 'prevent'. But those checks were enhanced in the wake of the scandal, and it is based in large part on the strength of those enhanced checks that this conclusion about the underpinning validity of LIBOR has been drawn. We can all agree, though, that the next iteration could do more to stop manipulation and fraud.