The emails from Hayley Boesky to Mr Geithner -- with three senior colleagues, Meg McConnell, Matthew Raskin, and William Dudley, copied in -- are among unreported emails seen by the FT that show New York Fed officials linking the incentive for banks to misreport borrowing rates to the bank's derivatives positions.

The plea by Ms Boesky, sent a few days before Mr Geithner made Libor reform recommendations to Sir Mervyn King, governor of the BoE, is perhaps the first indication that senior US officials suspected traders may have been influencing banks' Libor submissions.

Comments: Be the first to add a comment

add a comment | go to forum thread