Dechert on LIBOR – Officially the Beginning of the End
March 11, 2021
On Friday, 5 March 2021, the Financial Conduct Authority (FCA) announced that all 35 LIBOR benchmark settings as currently published by ICE Benchmark Administration (IBA), the administrator of LIBOR, will either cease to be published or will lose representativeness on the time frames set out in the announcement; a landmark step signalling the beginning of the end for LIBOR.1
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Footnote
1) The FCA announcement confirming the future cessation and loss of representativeness of LIBOR benchmarks can be found here.
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