The cessation of the London Inter-bank Offered Rate (LIBOR) at the end of 2021 has long been an issue vexing the global financial services industry given the scale and geographic spread of exposures to the affected benchmarks across the currencies and terms in which it is published. As we reach what Andrew Bailey, Governor of the Bank of England, has called the “endgame”, we thought it would be useful to publish an update on the status of this transition.
In our LIBOR Transition Status Update - October 2020, we draw together key recent developments in this transition and summarise the current status in the most impacted product markets at this critical juncture.
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© Herbert Smith Freehills 2021