Libor scandal: Review finds system 'no longer viable'
10 August 2012 Last updated at 15:05 BST
The way the inter-bank, or Libor, interest rate is set is no longer fit for purpose, according to a review by the Financial Services Authority.
The inquiry follows the revelation that Barclays and other banks rigged the rate, which is used as a benchmark for all kinds of financial transactions.
Emma Simpson reports.