LIBOR reform

LIBOR

This landing page is intended as a resource to enable ACT members and treasury practitioners convenient access to a range of materials covering the reform/replacement of LIBOR.

Although the reform of the LIBOR benchmarks has been ongoing since 2014, and the identification of alternate risk-free rates for use primarily in derivatives markets was a work in progress, a speech by Andrew Bailey, Head of the FCA in July 2017 effectively fired a shot across the bows of the financial markets when he announced that LIBOR submissions would not be ‘guaranteed’ post 2021.

This is a highly technical area, but one that falls squarely within the remit of the treasurer.

There is a real risk that LIBOR will cease to be published in 2021, and as a result all contracts referencing the benchmark will need to be re-drafted.

The resources on this page are divided into:

  • the official publications from the regulators1,
  • materials developed by the ACT either in partnership with other interested parties or for our own account, and
  • third party content which we consider to be particularly helpful.

Please send any content you would like to be considered for inclusion on this page by email to: technical@treasurers.org.

From the Regulators

From the ACT

Third party resources

  • 1. Regulators in this context refers to all the governmental or quasi- governmental decision makers – strictly speaking this is beyond the pure regulators.

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