FCA issues final LIBOR publications before end-2021 deadline
From 1 January 2022, 24 of the 35 LIBOR settings, which relate to specific currencies and time periods, will no longer be available.
From 1 January 2022, 24 of the 35 LIBOR settings, which relate to specific currencies and time periods, will no longer be available.
The FCA will allow the temporary use of ‘synthetic’ sterling and yen LIBOR rates in all legacy LIBOR contracts, other than cleared derivatives.
As of 13 December 2021, ThinkMarkets is changing the interbank benchmark rate used to calculate overnight interest.
Refinitiv launches regulated Tokyo Swap Rate for swaps referencing TONA to facilitate industry transition from LIBOR.
The FCA will require the LIBOR benchmark administrator to publish these settings under a “synthetic” methodology in 2022.
ICE Benchmark Administration launches ICE RFR Indexes in U.S. Dollar (SOFR), Euro (€STR) and Japanese Yen (TONA).
FCA consults on proposed decision to require synthetic LIBOR for 6 sterling and Japanese yen settings.
The FCA encourages liquidity providers in the US dollar linear interest rate swaps market to adopt new trading conventions based on SOFR.
ASIC expects Australian institutions to cease the use of LIBOR in new contracts before the end of 2021.
ARRC has selected Refinitiv to publish its recommended spread adjustments and spread-adjusted rates for cash products.