New York’s Metropolitan Transportation Authority is studying whether the agency sustained losses in connection to the alleged manipulation of the London interbank offered rate.

“It’s an ongoing situation with Libor. We believe it does have an effect on the MTA, and we’re following what the regulators in Great Britain and the United States are doing,” finance manager Patrick McCoy said about the mushrooming scandal Monday at the authority’s monthly finance committee meeting.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.