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Central bankers eyeing whether Libor needs scrapping

Libor

Central bankers and regulators will hold talks in September on whether the troubled global Libor interest rate can be reformed or whether it is so damaged that the benchmark of borrowing costs should be scrapped.

 

Government default would be "calamitous": FDIC's Bair

A senior banking regulator urged Congress to raise the federal debt ceiling to prevent a "calamitous" government debt default.

 

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