Bank trade body wants Libor cull

Most Libor interest rates should be scrapped by April to restore trust in what remains of the rigged benchmark, the British Bankers Association (BBA) said. It said only 30 of 150 variations of the London Interbank Offered Rate should stay under a proposal it published for consultation. The government has asked the FSA to make changes to the benchmark which is used to price products like home loans.