U.K. regulators and banks met to discuss revisions to the setting of global interest rates after lenders faced allegations that they manipulated the benchmark for about $360 trillion of securities.

The meeting was held yesterday to “consider future regulatory and market developments” for the London interbank offered rate, the British Bankers’ Association said in a statement today. Regulators and banks now plan to initiate a “technical discussion” about “likely future developments” with market participants who rely on Libor, the BBA said.

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