King Defends BOE Libor Role After Scrutiny On Geithner Memo

Bank of England Governor Mervyn King defended his handling of the Libor affair, saying that he only knew of wrongdoing two weeks ago and that a memo from Timothy F. Geithner in 2008 didn’t highlight malpractice.

King told Parliament’s Treasury Committee today in London that the e-mail sent by the then president of the Federal Reserve Bank of New York included recommendations rather than allegations at a time when global regulators were expressing concern on the quality of the borrowing benchmark.

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