FCA Pushes for Synthetic USD LIBOR
After USD LIBOR stops being published on June 30, 2023. The FCA said synthetic USD LIBOR will not be a representative rate provided by panel banks but instead would be based on the CME Term SOFR Rate plus the same credit spread adjustment used for legacy contracts by ISDA and ARRC.
United Kingdom Reference Rates Committee United Kingdom Financial Conduct Authority Financial Conduct Authority Alternative Reference Rates Committee Adjustable Interest Rate
Source: natlawreview.com