UK regulators set new deadlines for Libor transition

Bank of England and Stock Exchange
Rachael King

The Bank of England has asked firms to cease issuing cash products linked to sterling Libor by the end of the third quarter this year.

“Whilst good progress has been made, firms need to accelerate efforts to ensure they are prepared for Libor cessation by end-2021,” the BoE’s working group on sterling risk-free reference rates said today (January 16).

There appears to be a new urgency to the UK regulators’ approach to Libor transition. This year, according to BoE’s statement, will be a

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