Posts Tagged ‘Rosa Abrantes-Metz’

Replacing the LIBOR with a Transparent and Reliable Index

Posted by June Rhee, Co-editor, HLS Forum on Corporate Governance and Financial Regulation, on Friday January 4, 2013 at 8:58 am
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Editor’s Note: The following post comes to us from Rosa M. Abrantes-Metz, Principal at Global Economics Group and Adjunct Associate Professor at New York University Stern School of Business, and David S. Evans, Chairman of the Global Economics Group in the firm’s Boston office.

Our LIBOR Reform Articles describe the main problems with the current LIBOR setting, put forward a proposal on how to reform LIBOR through a committed quote system (“CLIBOR”), and explain why the final Wheatley Review proposal on how to reform LIBOR, and its reasons for stopping short of our proposals, are not satisfactory for putting LIBOR on solid ground.

We have developed an alternative process of providing and disseminating reliable information on interbank lending and borrowing that we call “Committed LIBOR” or “CLIBOR.” We submitted this to the Wheatley Review for its consideration. The new process would stand on three pillars: Commitment, Transparency, and Governance.

…continue reading: Replacing the LIBOR with a Transparent and Reliable Index

Libor for Detection and Deterrence of Cartel Wrongdoing

Posted by June Rhee, Co-editor, HLS Forum on Corporate Governance and Financial Regulation, on Friday September 7, 2012 at 9:11 am
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Editor’s Note: The following post comes to us from Rosa M. Abrantes-Metz, Principal at Global Economics Group, LLC and Adjunct Associate Professor at New York University Stern School of Business, and D. Daniel Sokol, Associate Professor at the University of Florida Levin College of Law and Visiting Professor for the 2012-13 academic year at the University of Minnesota Law School.

Our paper, The Lessons from Libor for Detection and Deterrence of Cartel Wrongdoing (forthcoming Harvard Business Law Review), examines the antitrust implications of Libor. We are cautious to draw overly broad conclusions until more facts come out in the public domain. What we note at this time, based on public information, is that the alleged Libor conspiracy and manipulation seems not to be the work of a rogue trader. Rather it seems to have been organized across firms and apparently required the active knowledge of a number of individuals at relatively high levels of seniority among certain Libor setting banks.

…continue reading: Libor for Detection and Deterrence of Cartel Wrongdoing

 
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