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How many days will it take for the cheque to clear? teen galleries The independent panel, set up by the UK Treasury, on Tuesday chose NYSE Euronext to take over LIBOR from the British Bankers’ Association, which had supervised the rate-setting for decades. The changeover is scheduled to be completed by early 2014, the panel’s chair, Baroness Sarah Hogg, said in a statement. The panel did not identify other bidders.