According to a Bloomberg poll, LIBOR will be replaced by a benchmark subject to greater government control, according to a poll of global investors.
 
Forty-four percent of those responding to a quarterly Bloomberg Global Poll said Libor will be replaced by a more regulated model within five years. Thirty-four percent of respondents predicted the rate will continue to be set by banks in the current fashion, while 22 percent said they didn’t know.

According to the report, confidence in Libor has waned as authorities investigate whether financial firms rigged the rate to profit on derivatives positions and hide how difficult it was for them to borrow money during credit-market turmoil in 2008.
 
The quarterly poll of 847 investors, analysts and traders who are Bloomberg subscribers was conducted Sept. 4.