Risk Free Rates are changing with new rates such as SONIA, €STR, SOFR replacing LIBOR. It will affect corporates and financial institutions alike with implications for legacy as well as new financial and commercial contracts.
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 and the real economy are not overlooked as any transition away from LIBOR is worked through.
