Exchange operator ICE plans for alternative to Libor
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(Reuters) - New York Stock Exchange operator 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 new benchmark, U.S. Dollar ICE Bank Yield Index, would be based on unsecured bank debt over one, three, and six-month periods, the operator said https://bit.ly/2DudOO8 in a report.LIBOR, or the London interbank offered rate, gauges what banks charge each other to borrow..