It is now official – the United Kingdom Financial Conduct Authority (UK FCA) recently confirmed that the use of US dollar LIBOR (London InterBank Offered Rate) will not be allowed in most new ...
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What was the LIBOR rate, and what happened to it?
LIBOR set interest rates for trillions of dollars in loans for over 30 years. Banks manipulated the rate because it relied on estimates rather than real transactions. A new system called SOFR replaced ...
Our Financial Services & Products Group discusses the status of the financial industry’s transition away from LIBOR, including the final rule identifying replacement benchmarks that was recently ...
NEW YORK--(BUSINESS WIRE)--The UK Financial Conduct Authority announced that the three-month USD LIBOR settings will either cease publication or no longer be representative after June 30, 2023. UBS AG ...
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