Reuters: Regulatory News: Carney says facts around Libor "deeply troubling"

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Carney says facts around Libor "deeply troubling" Jul 18th 2012, 15:53 OTTAWA, July 18 | Wed Jul 18, 2012 11:53am EDT OTTAWA, July 18 (Reuters) - Bank of Canada Governor Mark Carney said on Wednesday the facts that have emerged around the setting of the benchmark Libor interest rate are "deeply troubling." "It's not just a question of the structure of the index, which (U.S. Federal Reserve) Chairman Bernanke rightly described yesterday as structurally flawed. But it's active, conscious, repeated manipulation of that index," Carney told reporters. Carney chairs the Financial Stability Board, an international task force that seeks to set global standards for banks, insurers and financial markets.

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