FCA To Use Post-Brexit Powers For Orderly Libor Wind-Down

Law360, London (November 18, 2020, 6:19 PM GMT) -- The Financial Conduct Authority said Wednesday that it plans on using its new post-Brexit powers to ensure the orderly wind-down of the tarnished London Interbank Offered Rate, which could include publishing an amended version of the interest rate benchmark beyond 2021.

The FCA said it will use powers handed to it under the Financial Services Bill to manage the U.K. financial services sector's transition from Libor to new risk-free benchmark rates. The bill is the British Parliament's blueprint designed to ensure that the domestic finance sector is open to international markets after the Brexit transition period ends in December.

The City...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!