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In December 2012 the Ministry of Finance asked the Norwegian Financial Supervisory Authority (NFSA), in cooperation with the Norwegian Central Bank, to evaluate the existing system for fixing the Norwegian Interbank Offered Rate (NIBOR).
NIBOR is an important reference rate for the pricing of, among other things, derivatives products, bonds and loans for business borrowers. The NFSA recently delivered its findings to the ministry, concluding that it had found no evidence that NIBOR has been manipulated or that there had been attempts to manipulate it; however, it stated that it could not verify that manipulation of NIBOR had not taken place.
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Forfatter: Pål Sveinsson
Publikasjon: International Law Office