UK asset managers get stern warning about the end of Libor
The UK Financial Conduct Authority is unequivocal about the Libor interest rate disappearing at the end of 2021, when Sonia takes over
27 February 2020 - 16:32
London — Britain’s fund managers must be ready to stop using the London inter-bank offered rate (Libor) interest rate benchmark before it disappears at the end of next year, the country’s finance industry watchdog said on Thursday.
The Libor is being phased out after banks were fined billions of dollars for trying to manipulate it. The benchmark, used for pricing trillions of dollars of swaps, futures and loans worldwide, is set to cease by the end of 2021...
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