A LIBORious Transition: Weaning the World off the Most Popular Credit Benchmark
Bonds & Loans
Published: 3 August 2018 09:24
About a year has passed since the UK FCA’s Chief Executive Andrew Bailey set the deadline for the financial markets’ transition away from LIBOR, upon which roughly USD350tn in securities, loans and derivatives across five major currencies is contracted. Finding an alternative that can satisfy the diversity of markets that rest upon this crucial benchmark is proving to be more elusive than anticipated, beckoning questions about the pace and scale of transition.
15 May 2019