FCA nears “tough legacy” solutions as it announces end dates for LIBOR

By Neasa MacErlean

LIBOR, the London Interbank Offered Rate, will move into its final stages on 31 December following an announcement from the FCA that “panel bank submissions for all LIBOR settings will cease” on that date. However, the regulator has also confirmed that it “does not expect that any LIBOR settings will become unrepresentative” before then — a useful piece of information for market participants who are phasing their switch to replacement benchmarks.