LIBOR no more: benchmark transition completes

The FCA and other regulators have issued final warnings as they took the unusual step of celebrating the completion on 30 September of one of their longest projects - the transition away from LIBOR, a journey which took over a decade.

By Neasa MacErlean

With an estimated $400 trillion of financial contracts linked to it, LIBOR was variously describedas "the biggest number in the world" and greater in terms of exposure than Brexit or MiFID II.