Countdown to 2021: what you need to know about the phasing out of LIBOR

  Read time : 8 mins       Added:  15/11/2019

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In July 2017, the Financial Conduct Authority signalled the potential discontinuation of LIBOR beyond 2021. This kick-started significant activity around the globe to consider the implications and prepare for transition to alternative benchmarks.

One year later, Andrew Bailey, CEO of the FCA, further reinforced the message that market participants should not rely on LIBOR's continuation beyond 2021, and are strongly encouraged to make plans for transition.

But what does a transition from LIBOR to an alternative benchmark mean for those using the trillions of dollars of financial products and contracts around the globe which reference LIBOR?

Albert Shamash, Managing Director, Business Development & Innovation, Financial Institutions, and Steve Bullock, Head of Benchmark Submission and Supervision, Group Corporate Treasury, analyse in our latest September report (PDF).

Our September edition of Countdown to 2021 includes information on changes to the EONIA benchmark methodology from October 2019 and changes to its publication timing. Further details can also be found in the Reference Materials (PDF).

While all reasonable care has been taken to ensure that the information provided is correct, no liability is accepted by Lloyds Bank for any loss or damage caused to any person relying on any statement or omission. This is for information only and should not be relied upon as offering advice for any set of circumstances. Specific advice should always be sought in each instance.

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While all reasonable care has been taken to ensure that the information provided is correct, no liability is accepted by Lloyds Bank for any loss or damage caused to any person relying on any statement or omission. This is for information only and should not be relied upon as offering advice for any set of circumstances. Specific advice should always be sought in each instance.