Central Banking

‘Clock ticking’ for Australian institutions exposed to Libor – RBA’s Kent

clock-waters1017

Australian financial institutions may not be prepared for the transition away from Libor, one of the central bank’s most senior officials has warned.

Speaking in Sydney today (March 19), assistant governor Christopher Kent said the “clock is ticking” for institutions with exposures to the London Interbank Offered Rate.

“A path for transition away from Libor has been cleared,” he said, but he noted changes being undertaken in the Australian market may not be enough.

To replace Libor

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

FedNow – at last

The instant payment system might help fix the US’s rusty payment rails, but it also faces competition, says Dave Birch

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.