BBA delays phase-out of some Libor rates after complaints
Less-used rates will be produced until May 2013
Reforms to the system for calculating Libor will be delayed until the end of May 2013, the British Bankers' Association (BBA) said today.
Originally, the BBA had planned to stop publishing several less widely used rates at the end of January. Sterling, US dollar, euro, euro same-day, Swiss franc and yen two-week and four, five, seven, eight, nine, 10 and 11-month Libor rates will now be preserved until May, when they will be phased out. The BBA will also keep publishing Australian dollar and
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