Arab Today, arab today us senate to grill geithner bernanke on raterigging
Last Updated : GMT 22:21:31
Arab Today, arab today
Arab Today, arab today

US Senate to grill Geithner, Bernanke on rate-rigging

Arab Today, arab today

Arab Today, arab today US Senate to grill Geithner, Bernanke on rate-rigging

Washington - AFP

US lawmakers said Tuesday they will question Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben Bernanke about a bank rate-rigging scandal that has engulfed the global financial sector. Members of the powerful US Senate Banking Committee said the top two US economic policymakers should brace for questions about the manipulation of the Libor interbank lending rate. The scandal, which ignited with British bank Barclays\'s being fined for trying to rig the rate, has called into question a key plank of the global banking system. The Libor rate is used as a reference point for a range of consumer interest rates across the world, from US credit cards to European mortgages. \"It is important that we understand how any manipulation may impact American consumers and the US financial system,\" Senate committee chairman Tim Johnson said in statement. \"The Banking Committee will hold hearings in July with Treasury Secretary Geithner and Federal Reserve Chairman Bernanke, and I am asking them to be prepared to answer senators\' questions on this matter.\" The Fed chairman is likely to face a particularly rough time from lawmakers. As well as being a central bank, the Fed is a watchdog for many of the banks that set the Libor, including Barclays. Questions have been raised about when the Fed detected foul play, whether it did enough to stop it and whether the issue was put on the backburner because Wall Street was at the time in the throes of the 2007-2008 financial crisis. According to David Kotok, chairman of Cumberland Advisors, the scandal raises questions about whether Fed surveillance was good enough and what it will do now. Kotok suggested guilty banks could losing their prime-dealer status, a much-coveted and lucrative status bestowed by the New York Fed, which allows banks to buy US bonds directly from the government. \"We wonder what message would be sent if the NY Fed now took Barclays out of the primary dealer lineup for a penalty period. And we wonder what the market will think if the NY Fed does nothing,\" he said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us senate to grill geithner bernanke on raterigging Arab Today, arab today us senate to grill geithner bernanke on raterigging

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us senate to grill geithner bernanke on raterigging Arab Today, arab today us senate to grill geithner bernanke on raterigging

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Barcelona through George Orwell’s eyes

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Tillerson heads to Gulf, downbeat

GMT 09:23 2017 Friday ,20 October

Tillerson heads to Gulf, downbeat
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Actress Shery Adel happy for Egypt’s qualification

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 07:47 2017 Tuesday ,17 October

Hussein Fahmy happy for honoring in festival

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:43 2017 Wednesday ,18 October

Fake dentists ply brisk trade

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday