LIBOR reform

LIBOR

Following the speech by Andrew Bailey, Chief Executive of the FCA, on 27 July 2017, indicating that the FCA would no longer use its powers to compel panel banks to contribute to LIBOR post 2021, there is a real risk that LIBOR will cease to be published after that date, an event which will impact all financial contracts that currently reference LIBOR.

This page provides a reference both for corporates and other interested parties when considering the implications (primarily for corporates) of transitioning away from LIBOR.

This is a highly technical area, but one that falls squarely within the remit of the treasurer and the ACT has been working closely with other interested parties (trade associations, benchmark providers, the FCA and BoE) to ensure that the needs of the corporate sector (real economy) are not overlooked as any transition away from LIBOR is worked through.

The ACT is a member of the Risk-Free Rate Working Group, the body overseeing the transition away from LIBOR benchmarks in the UK and participates in a number of sub groups tackling topics such as the impact on the loan market. If you have concerns or questions you would like us to raise, please contact us at technical@treasurers.org

The resources on this page are divided into:

  • 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 ACT

From the Regulators

Third party resources

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

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