Geithner Aware of Problems With Key Interest Rates in 2008

When Timothy Geithner ran the Federal Reserve Bank of New York, he became aware of problems with the process for setting key interest rates in the midst of the 2008 financial crisis, according to documents provided to the New York Times.

Mr. Geithner, who is now the Treasury Secretary, learned about the concerns after Barclays executives acknowledged to New York Fed officials that the British bank was understating the rates.