Lenders vow to be transparent on Hibor

Hong Kong's banking association has proposed increasing market transparency and reducing the number of maturities in the city's interbank reference rates market following a price-rigging scandal in London.

The British scandal saw banks manipulate interbank rates to profit from trades.

The Hong Kong Association of Banks yesterday said it would hire an independent consulting firm to survey and collect feedback from the banking industry in the coming weeks.

via Business feed http://www.scmp.com/business/banking-finance/article/1091692/lenders-vow-be-transparent-hibor