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Exclusive: Foundations for post-Libor system sliding into place

Reuters  |  LONDON 

By Huw Jones and Marc JonesLONDON (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 ...

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First Published: Thu, August 10 2017. 21:10 IST