US CFTC chief to testify on Libor before European Parliament

WASHINGTON, Sept 21 Fri Sep 21, 2012 11:59pm IST

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WASHINGTON, Sept 21 (Reuters) - The chairman of the U.S. derivatives regulator will testify before a European parliamentary committee about global benchmark interest rates, the agency said on Friday.

Commodity Futures Trading Commission chief Gary Gensler will speak via video conference on Sept. 24 to the Economic and Monetary Affairs committee.

The CFTC said Gensler will discuss rates including the London Interbank Offered Rate, or Libor, which is at the center of an international rate-rigging investigation. European and U.S. regulators, including the CFTC, settled a case with Barclays Plc over allegations that the British bank manipulated the key benchmark.

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