Antitrust fears cloud Isda protocol – and fallback spreads
Wait for DoJ assurances could delay Libor transition plans and further unsettle rates trading
Concerns over competition law may delay the release of a hotly anticipated Libor fallback protocol for derivatives – and in turn push back an announcement about the death of Libor.
The protocol is a key element of the Libor transition plan. Last month, a senior UK regulator suggested announcements about Libor’s cessation could be made soon after it was adopted – news that immediately moved the market.
The International Swaps and Derivatives Association plans to publish the protocol and the
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