Five Bullet Points in the LIBOR Transition That Happened in March (That You Want to Act Like You Know All About in Case Your Boss Asks) | Cadwalader, Wickersham & Taft LLP
5-Mar-21 Non-Representative. “Synthetic” rate possible for a “further period” after end-June 2023. Bullet 2: The announcements from the FCA and IBA were not unexpected and were the result of feedback from market participants. The IBA feedback statement and the FCA announcement were anticipated as a result of a process by the IBA where it sought input from market participants regarding proposed end dates for certain settings for LIBOR. The FCA announced in July of 2017 its intention that it would no longer be necessary to request or require banks to submit to LIBOR after December 31, 2...
Source: jdsupra.com