As if they didn’t have enough to deal with, banks are faced with a succession of serious challenges over the next two years as they face up to the reality of the end of Libor. Firstly, they must ...
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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 ...
The Financial Conduct Authority (FCA) has confirmed that 85 per cent of the uncleared UK derivatives market are ready for the end of the London interbank offered rate (LIBOR) as 12,500 firms sign the ...
The Federal Reserve has issued guidance to assist examiners in assessing supervised firms’ progress in preparing for the London Interbank Offered Rate (LIBOR) transition. The interagency statement ...
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