Market watchdog to launch probe of Bubor

Analysis

Hungarian financial market regulator PSzÁF is starting an investigation of the way the Budapest Interbank Offered Rate (Bubor) is calculated, PSzÁF spokesman István Binder said on public radio early Wednesday.

"We are curious about how the process takes place and how it is regulated an controlled," Binder said on Kossuth Radio's 180 perc program. He added that the investigation could take several months.

PSzÁF is unprejudiced and has no suspicion, rather it only wants to review whether the Bubor is being calculated appropriately, Binder stressed.

The investigation follows a recent scandal involving collusion among banks that calculate the London Interbank Offered Rate (Libor).

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