30 Jun 2020
In this briefing, we summarise what has been happening in the world of risk-free rates while treasury functions may have been dealing with more immediate challenges.
With the effects of COVID-19 front and centre over the last few months, some treasurers may have had to park LIBOR transition as a matter for another day. The FCA, Bank of England and Working Group on Sterling Risk-Free Reference Rates are, however, of the view that COVID-19 must not slow down transition efforts and the deadline for completion remains. Market participants must continue to work on the basis that LIBOR will not be published after the end of 2021. In light of this, the various working groups have continued to meet and make progress on the outstanding issues over the last few months.
This material is provided for general information only. It does not constitute legal or other professional advice.
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