Indeed, studies have shown that even when emerging-market economies say they are floating (as Malaysia, for example, used to), they tend to rely more heavily than the industrial countries do on interest-rate policy and foreign-exchange market intervention to limit actual movements in the exchange rate.

ECONOMIST: Spoilt for choice | The

Gensler first made the push to replace Libor last summer saying the financial world needs a rate that was tied to actual market transactions rather than what are essentially guesses by banks about their own daily borrowing rates.

FORBES: Kill Libor, Markets Need A New Benchmark

Gensler first made the push to replace Libor last summer saying the financial world needs a rate that was tied to actual market transactions rather than what are essentially guesses by banks about their own borrowing daily rates.

FORBES: Kill Libor, Markets Need A New Benchmark