BBA Votes to Cede Control of Libor, Santander Sets Share Price

Receiving Wide Coverage ... Libor Shuffle: We suspected Libor was going to be big news this week. Following CFTC chairman Gary Gensler's call for radical reform of the Libor system, reports surfaced that the British Bankers' Association has voted to give control of the benchmark interest rate - which the BBA itself created back in 1986 - to someone else. The trade association's vote, which took place earlier this month, precedes the formal recommendations from U.K....