US$ settings given LIBOR leeway over fears of market risk

Users of one, three and six-month US dollar LIBOR settings have been warned by the FCA that publication of these settings will continue only "for a short period after 30 June 2023" - probably ceasing on 30 September 2024.

By Neasa MacErlean

The regulator is taking this step because it believesthat the "nature and scale of contracts" on these settings is such that "risks to market integrity and consumer protection" would be posed by withdrawing these options sooner.