As widely expected, the United Kingdom's Financial Conduct Authority (FCA), the regulator for Libor (the London Interbank Offered Rate), has issued an announcement confirming that all.
FCA Announces Future Cessation And Non-Representativeness Of Libor Benchmarks - Finance and Banking mondaq.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mondaq.com Daily Mail and Mail on Sunday newspapers.
Bloomberg today announced that the Bloomberg Short-Term Bank Yield Index (BSBY) is now available for use as a reference in financial benchmarks in the U.S. loan market. BSBY includes both a term structure and systemic credit-sensitive spread, which may be used to support the market's transition from LIBOR to risk-free rates, such as SOFR. Bloomberg began publishing BSBY on an indicative basis for the purposes of illustration, analysis and collection of market feedback on October 15, 2020.
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