Congressional investigators probing efforts to rig Libor have asked the Federal Reserve to turn over five years of correspondence between the central bank and the U.S. banks that help set the rate.
In a letter addressed to New York Federal Reserve Bank president William Dudley, Rep. Randy Neugebauer (R-Texas) writes that a set of documents provided to the House Financial Services Committee did not adequately describe the Fed’s response to admissions by banks that participate in setting Libor. (On the other hand... read: Did Fixing Libor Keep Financial Crisis From Getting Worse?)