FCA confirms no new Libor use after year-end

The UK watchdog also clarified use cases for synthetic Libor rates, putting a definitive end to any form of speculation as to the rate’s continuation beyond year-end 

 

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Two of the seven USD Libor maturities discontinued at the end of 2021, and the other five – overnight, one, three, six and 12 months – will follow in June 2023, we surveyed the market to gauge readiness