LCH to clear swaps linked to embattled BSBY rate
Risk USA: SOFR surge eases concerns over Bloomberg’s credit-sensitive Libor alternative
LCH plans to begin clearing swaps linked to Bloomberg’s short-term bank yield index (BSBY) by year-end, defying regulatory criticism of the aspiring US Libor successor.
“We’re working on our capability. It really is all about that appropriateness, and it’s a decision we want market participants and end-users to be making,” said Philip Whitehurst, head of service development for LCH’s rates business.
Whitehurst – speaking on a panel at the Risk USA conference on November 9 – said the UK central
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