Daily News: May 24, 2018

Dump LIBOR, Say Fed, BoE Officials

Reuters reported both the U.S. Federal Reserve and Bank of England are continuing to argue for the replacement of LIBOR by global financial markets.

According to Reuters, at a BoE event in London, Mark Carney, governor of the Bank of England, and New York Federal Reserve President William Dudley both made comments in support of the replacement of LIBOR of the benchmark standard in 2021.