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19.07 - 09:45
Libor’s last vestige to fade away as UK phases it out in sterling
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fnlondon.comThe Financial Conduct Authority is planning to end its support for the last vestige of Libor left in the sterling market.
Since Libor was deemed “non-representative” at the end of 2021, the FCA has allowed the publishing of a synthetic Libor rate in one, three and six month tenors. This was a temporary solution to allow for firms with tough legacy contracts to repaper to reference replacement rates such as Sonia. The FCA now says the transition from Libor should be sorted.
“There’s...
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