Bailey acknowledged there had been calls to step back from the Libor transition as a priority because of the shock to global financials markets caused by the coronavirus crisis.
But in my view, what we saw in financial markets in March in response to the shock of Covid only reinforces the importance of removing the financial system's dependence on Libor in a timely way.
A key gauge of interbank bank borrowing costs recorded its biggest one-day decline in more than 2-1/2 weeks, hinting less stress in US money markets as the Federal Reserve has injected over $200 billion in temporary cash in the US banking system. The Lond
The interest rate that banks charge each other to borrow dollars for three months posted its biggest daily fall in 10 years on Friday as traders betted that the Federal Reserve may boost the number of US rate cuts to counter the potential economic impact
Pakistan Telecommunication Authority (PTA) has rejected mobile operators' apprehensions relating to the price of licence renewal and passed an order while fixing the fee for license renewal at $39.5 million per MHz for frequency spectrum of 900 MHz and $2
The Islamabad High Court (IHC) has directed Telenor and Jazz for depositing 50 percent of licence renewal fee, i.e. around Rs 36 billion for each company, within two weeks as guarantee.
The Islamabad High Court (IHC) has directed Telenor and Jazz for depositing 50 percent of licence renewal fee, i.e. around Rs 36 billion for each company, within two weeks as guarantee.
The provincial government of Khyber Pakhtunkhwa has decided to bring the throw-forward of development schemes during the current financial year 2019-20 to 4 years. The development situation inherited by the new government had a throw-forward of more than
The Islamabad High Court (IHC) has directed Pakistan Telecommunication Authority (PTA) to decide about the renewal of licences of the mobile companies by July 15.
The government of Khyber Pakhtunkhwa would receive straight transfers to the tone of Rs 25.6 billion in head of oil & gas royalties and surcharges during the upcoming financial year 2019-20, said white paper on the annual budget.
The government has budgeted Rs 52.73 billion from 3G licences under the head of non-tax revenue for the next fiscal year 2019-20 against Rs 6.854 billion budgeted for the current fiscal year which was later revised to Rs 66.620 billion.
The government has budgeted Rs 52.73 billion from 3G licences under the head of non-tax revenue for the next fiscal year 2019-20 against Rs 6.854 billion budgeted for the current fiscal year which was later revised to Rs 66.620 billion.
Switzerland's central bank said Thursday it was dropping Libor as a reference in setting interest rates in another blow to the scandal-plagued benchmark.