Iosco deals hammer blow to BSBY, Ameribor
Non-compliance ruling does not equate to a ban, but may strangle use by regulated firms
The role of credit-sensitive rates in the post-Libor landscape has been thrown into doubt after the International Organization of Securities Commissions ruled that they do not comply with international benchmark standards. Following a review of Bloomberg’s Short-Term Bank Yield Index (BSBY) and the Ameribor index published by the American Financial Exchange (AFX), the standard-setter called on the rate administrators and their auditors to “refrain from any representation that the CSRs reviewed
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