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Scandal-Hit Libor to Be Phased Out
In five years, Libor could be no more.
On Thursday, a top U.K. regulator said it would phase out the London interbank offered rate, a scandal-plagued benchmark that is used to set the price of trillions of dollars of loans and derivatives across the world.
Andrew Bailey, the chief executive of the U.K.’s Financial Conduct Authority, which…
