Discontinuation of Libor would result in ‘significant systemic risk’, Powell says

Jerome Powell, Federal Reserve Board

The discontinuation of US dollar Libor rate publication could pose a "significant systemic risk" to banks, a Federal Reserve Board governor said on June 21.

Speaking in New York, Jerome Powell noted money market borrowing by banks that underlies the US dollar Libor has experienced a "secular decline".

"Ongoing regulatory reforms and changing market structures" raised the question of whether transactions underlying Libor would become even "scarcer" in the future, he said. "Libor could eventually

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 [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

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 here: