Press Release: Economic affairs MEPs target conflicts of interest in benchmark setting

The European Parliament's Economic and Monetary Affairs Committee approved on 31 March 2015 a draft law to make the benchmark used to price European Union citizens’ mortgages, loans and bonds more trustworthy.

This initiative aims to clean up the benchmark-setting process, by curbing conflicts of interest like those that led to the London Interbank Offered Rate (LIBOR) rigging scandals of previous years.

• Primary Source

ESO: Background information: ESMA-EBA: Euribor makes significant progress with reforms http://www.europeansources.info/record/esma-eba-euribor-makes-significant-progress-with-reforms/

European Parliament: Press Release, 30.03.15: Benchmarks: restoring confidence in the financial markets http://www.europarl.europa.eu/news/en/news-room/content/20150328STO38902/

ESO: Background information: Benchmarks for financial instruments: Council agrees stance on tighter controls http://www.europeansources.info/record/press-release-benchmarks-for-financial-instruments-council-agrees-stance-on-tighter-controls/

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