LIBOR reform


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:

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.

Be the first to hear of treasury news, regulatory change, plus receive discounts on ACT event tickets and more..

Join ACT networks

Visit the ACT blog site


Please wait....