MONEY & RATES BANKING & FINANCE INFORMATIONTECHNOLOGY ADVERTISING & MARKETING INTERNATIONAL BUSINESS
Fortune World
ECONOMY & POLITICS
RNI NO:KARENG/2010/353381 VOL : 3 ISSUE.1321 DAILY BANGALORE,INDIA 14THMARCH 2014 Pages -4 $1/-USD
Hong Kong...
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MONEY & RATES BANKING & FINANCE INFORMATIONTECHNOLOGY ADVERTISING & MARKETING INTERNATIONAL BUSINESS
Fortune World
ECONOMY & POLITICS
RNI NO:KARENG/2010/353381 VOL : 3 ISSUE.1321 DAILY BANGALORE,INDIA 14THMARCH 2014 Pages -4 $1/-USD
Hong Kong MonetaryAuthority,14 March 2014:
The Hong Kong MonetaryAuthority (HKMA) announced
todaythe outcome of its investigations into the Hong Kong
Interbank Offered Rate (HIBOR) fixing.
Nine of the banks designated as HIBOR reference banks
were required to appoint external firms, approved by the
HKMA, to examine the relevant communication records
(such as internal and external chat messages) for periods
between 2005 and 2012. Using the same rigorous methodology that was adopted in similar benchmark investigations overseas, the process covered over 31 million communication records and numerous inquiries and interviews
with bank staff involved in the HIBOR fixing. The HKMA
found evidence of misconduct in the submission of HIBOR
rates by only one bank, and
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