LONDON, July 15 Global regulator the Financial
Stability Board is looking into deep-rooted changes to the
foreign exchange market's system of fixing benchmarks in
response to allegations now being investigated that dealers at
major banks manipulated rates.
The FSB, the G20's proxy on financial regulation, on Tuesday
published a consultation paper asking for views on a number of
recommendations that included changes to market infrastructure,
systems and how the benchmark is calculated.
Those went far deeper than many in the banking sector had
expected just weeks ago. The FSB said banks and other market
participants have until August 12 to respond before final
recommendations are sent to G20 leaders in November.
(Reporting by Patrick Graham; editing by Jamie McGeever)