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U.S. regulators want to be rid of Libor, and sooner rather than later, reports the Financial Times.

Read: How to reform Libor: CFA poll

"The Financial Stability Oversight Council, a collection of regulators including the Federal Reserve and Treasury, said on Thursday that alternative rates 'anchored in observable transactions' should be identified 'promptly' by international officials and market participants," the report says.

Read more here.

Also read:

Should LIBOR be scrapped?

Ex-UBS bosses deny Libor knowledge

Originally published on Advisor.ca

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