Consultation on Libor cessation expected in September
IBA must consult market before formal announcement can be made at year-end
The market could get its first hint of which Libor benchmarks will be killed off at the end of 2021 in a consultation expected to take place as early as September.
The UK’s Financial Conduct Authority (FCA) has indicated the market may get as much as a year’s notice of the discontinuation of any individual Libor rate. Edwin Schooling Latter, the FCA’s director of markets policy, said last month an announcement – either from the regulator or Libor’s administrator – could come as early as
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