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  • Press Conference By Tadahiro Matsushita, Japan's Minister For Financial Services - Calculation Method Of TIBOR Following LIBOR Manipulation Scandal

    Date 23/07/2012

    [Questions & Answers]

    Q.

    I have two questions.

    First, the Japanese Bankers Association (JBA) started considering revisions to the calculation method of TIBOR (Tokyo Interbank Offered Rate) following the scandal over the manipulation of LIBOR (London Interbank Offered Rate).

    Regarding TIBOR, a foreign securities company's use of an illegal practice was exposed last year. What measures does the Financial Services Agency (FSA) intend to take to prevent illegal acts related to TIBOR and what are your thoughts on the unfolding LIBOR scandal?

    A.

    As for the LIBOR scandal, we regard it as a very serious problem. We are keeping close watch on it.

    As for your question concerning revisions to TIBOR, the JBA is responsible for determining the standard for managing TIBOR, so the FSA is not in a position to make comments.

    I understand that in response to inquiries from media organizations, the JBA has replied that nothing has been decided with regard to revisions to TIBOR. I believe that it is important that the JBA, which is responsible for publishing TIBOR, take appropriate and timely actions regarding the management of TIBOR.

    I think that the management of TIBOR and the illegal manipulation of interest rates are different matters.

    The FSA has already been checking individual financial institutions' internal control systems through inspection and supervision. If a problem is recognized with regard to a financial institution's internal control system, we will take appropriate actions as needed.

  • SGX Welcomes JB Foods To Mainboard

    Date 23/07/2012

    Singapore Exchange (“SGX”) is pleased to welcome the listing of JB Foods Limited on its Mainboard today, under the stock code of “Q0W”.

  • Tokyo Stock Exchange Monthly Statistics Report - June 2012

    Date 23/07/2012

    Click here to download Tokyo Stock Exchange's monthly statistics report for June 2012 

  • Kay Review Sets Out Measures To Transform UK Equity Markets

    Date 23/07/2012

    Restoring relationships built on long term trust and confidence and realigning incentives across the investment chain should be the basis of a much needed shift in the culture of the UK’s equity markets, according to a new independent review from Professor John Kay, published today.

  • GFI Group, Thomson Reuters And SDIC Trust To Form Joint Venture And File Application To Establish Full Service Foreign Exchange And Money Brokerage In China

    Date 23/07/2012

    GFI Group Inc., a leading provider of wholesale brokerage services for the global financial markets, and Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals, today announced that they will be forming a joint venture with SDIC Trust Co., Ltd. of China to create a foreign exchange and money broker for the domestic Chinese financial markets.

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