After Libor: Japan, Australia look to multi-rate future
Using new risk-free rates alongside Libor equivalents gains industry support
Long after Libor disappears, its local equivalent in countries such as Japan and Australia is set to stay on, at least for some products, and that could be a boon for market participants in the two nations.
The reluctance of panel banks to continue supporting Libor indefinitely may have forced markets that use the benchmark to diverge from the multi-rate approach envisaged by the Financial Stability Board’s road map in 2014. But in the two Asia-Pacific countries, regulators are promoting new
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