LIBOR to be phased out by 2021!
By Abin Daya The LIBOR is dead! Well, not quite. But in the next 4 years, it could be. The The Financial Conduct Authority (FCA) announced this week that it intended to phase out the LIBOR by 2021. Post that, banks would no longer be compelled to provide interest quotes to the Inter-Continental Exchange, and in the absence of these, the benchmark would die a natural death. What comes after that? We don’t know yet. But the first item this week is something closer home – India’s foreign trade numbers for the month of June. Apart from what is included in the update, I also tried to explore if there was some sort of correlation between industrial production growth and export performance. ...
RBI signs info exchange pacts with UK financial bodies
The agreements were necessitated after the UK introduced changes in its financial services regulations The Dollar Business Bureau The RBI signed separate MoUs with Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA), United Kingdom The Reserve Bank of India (RBI) on Wednesday said that it has signed agreements with Britains two regulatory bodies to ensure greater supervisory cooperation and exchange of information related to financial markets. The RBI signed separate Memoranda of Understanding (MoUs) on supervisory cooperation and exchange of supervisory information with Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA), United Kingdom, the central bank said in a statement. Though the Reserve Bank had entered into an agreement with the Financial Services Authority (FSA) of the UK in July 2012, fresh ...
