Exchange operator ICE plans alternative benchmark to Libor
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(Reuters) - Intercontinental Exchange Inc said on Thursday it plans to launch a new benchmark to replace the LIBOR, as part of global efforts to scrap its use after a manipulation scandal.The proposed benchmark, the U.S. Dollar ICE Bank Yield Index, would be based on unsecured bank debt over one-, three- and six-month periods, the operator of the New York Stock Exchange said https://bit.ly/2DudOO8 in a report."The index has been developed to meet the potential needs of lenders, borrowers and..