FCA Sets Transition Period For Legacy Sterling, Yen Libor

By Lucia Osborne-Crowley (September 29, 2021, 10:34 AM BST) -- The Financial Conduct Authority announced plans on Wednesday to continue publishing a "synthetic" version of Libor in sterling and Japanese yen for existing contracts after the benchmark interest-rate index is discontinued at the end of this year.

The FCA has said it will allow all contracts in sterling and yen, except cleared derivatives, to continue using a version of Libor until June 2023. (iStock) The FCA said it has decided to allow all contracts in sterling and yen, except cleared derivatives, to continue using a version of the London Interbank Offered Rate until June 2023. Any new use of sterling, Japanese yen,...

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