Fed vice-chair: Libor will end
Libor use has expanded, but Quarles says Fed is looking for transition plans
Randal Quarles, Federal Reserve vice-chair, told a symposium on March 22 that Libor would come to a definitive end in two years, despite ongoing growth in Libor-linked contracts.
“There is no scenario in which a panel-based USD Libor will continue past June 2023, and nobody should expect it to,” Quarles said.
The Fed vice-chair noted that despite warnings about Libor’s expiration, the dollar amounts involved in Libor-referencing contracts have increased in the last few years.
Quarles cited a
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