LIBOR Newsflash: Announcement On Official Cessation Of LIBOR Is Expected Soon - Finance and Banking
With only ten months left until the phase-out of the London Interbank Offered Rate (" LIBOR"), transition efforts should be well underway. In this bulletin, we discuss the ICE Benchmark Administration (the " IBA") and/or the Financial Conduct Authority's (the " FCA") expected announcement about the official cessation of LIBOR, and highlight the modified timelines for transitioning from LIBOR to an alternate risk-free rate (" RFR") recommended by the relevant working groups. 1. Expected Announcement on LIBOR Cessation On January 25, 2021, the administrator of LIBOR, the IBA, concluded its co...
Source: mondaq.com