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Foundations for post-Libor system sliding into place

Preparations are already underway to put in place two essential elements for the planned replacement

Huw Jones & Marc Jones | Reuters 

Critical steps for replacing Libor could be taken by next year, British industry officials told Reuters, increasing the chances of a smooth transition from the interest rate benchmark used to price financial contracts worth tens of trillions of pounds.   When regulators announced last month that scandal-plagued Libor would be replaced by the end of 2021, there was scepticism among some industry players over whether such a huge transition could take place on time  or even at all.   But preparations are already underway to put in place two essential elements for the planned ...

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First Published: Fri, August 11 2017. 02:12 IST
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