U.K. wants to expand new LIBOR rules to other benchmarks

The U.K. government wants new rules crafted in the wake of the LIBOR scandal to extend to benchmarks in the foreign exchange, fixed income and commodity markets, reports Bloomberg.

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The change would “cover other key rates including the WM/Reuters 4 p.m. London currency fix, the Sterling Overnight Index Average, the London gold fixing and the ISDAFix…. The government aims to have the rules in place by the year-end — five months before the next general election,” explains the report.

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