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BBA USD LIBOR Panels

20 Dec 2010

Further to the press notice of 9th December, Bank of Nova Scotia, BNP Paribas Credit Agricole Corporate Investment Bank and Sumitomo Mitsui Banking Corporation will be added to the USD LIBOR panel in February 2011.

 

Notes to editors

Decisions on individual banks were taken on the basis of scale of activity in the London market, perceived expertise in the currency concerned, reputation, and due consideration of credit standing. Current and potential panel members were asked to provide data confidentially to the BBA about their cash and short-term FX swap business in each currency in order to measure their scale of activity.

Any bank may apply to join any LIBOR contributor panel. Banks signal their willingness to join a panel by submitting data regarding their activity in the cash and FX swap markets in confidence to the BBA. The LIBOR Director at the BBA compiles this data into a review which is presented to the committee at their meetings. For more information on this, please contact libor@bba.org.uk.

The decisions represent the composite judgement of the independent Foreign Exchange and Money Markets Committee and the BBA and the Foreign Exchange and Money Markets Committee are not able to comment on any individual Panel or bank.

The Foreign Exchange and Money Markets Committee is committed to reviewing the Panels at least twice annually.

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