November 20, 2012
10:00 a.m. EST
Rosa Abrantes-Metz, Michael Barr, and Miguel De La Mano discuss how to reform LIBOR with David S. Evans
Competition Policy International and Market Platform Dynamics has assembled an all-star team to discuss what to do about the LIBOR — the interest rate index that acts as the benchmark for hundreds of trillions of dollars on contracts, from home mortgages to credit-default swaps, globally. The Barclay’s settlement with the US CFTC and the UK FSA identified extensive manipulation of the LIBOR rate, which is established through the daily submission of rates to a central body. There is widespread agreement that the current LIBOR process must end. But should it be tweaked, overhauled, and blown up? And what happens to all those contracts that are pegged to LIBOR now.
To discuss these issues CPI has brought together:
- Rosa Abrantes-Metz, a Principal at Global Economics Group and an Adjunct Professor at New York University. Professor Abrantes-Metz, an economist, published a widely cited 2008 paper that raised alarms over the LIBOR rate setting process.
- Michael Barr, Professor of Law University of Michigan Law School, and former Assistant Secretary for Financial Institutions, U.S. Department of the Treasury, where he was a key architect of the Dodd-Frank Act.
- Miguel De La Mano, Head of Unit for the Analysis of Financial Market Issues, DG internal Market and Services, European Commission and former Chief Economist, UK Competition Commission.
- David S. Evans, Chairman of Global Economics Group and Lecturer, University of Chicago Law School, will moderate the discussion. Evans is the co-author with Professor Abrantes-Metz of a widely discussed proposal for replacing LIBOR.
The seminar will be conducted by a web conference starting at 10:00 a.m. EST. The program will be open for discussion at 30 minutes past the hour.
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You will receive instruction to log into the Webinar on Nov. 19. If you have any other questions, please email Carolyn Vallejo at email@example.com.