Protocol delay casts doubt on Libor death knell timing

Two-month delay to Isda fallback protocol leaves FCA’s planned end-2020 statement in the balance

The timing of the Financial Conduct Authority’s announcement detailing Libor’s demise now looks uncertain after the International Swaps and Derivatives Association confirmed it would postpone the effective date of its fallback protocol to January.

The UK regulator told the market in June there is “a good case” for making a formal announcement about the timing and manner of Libor’s discontinuation once the Isda protocol became effective – originally earmarked for November.

With Isda struggling