On March 5, the UK Financial Conduct Authority announced the dates that all LIBOR settings will either cease or become non-representative. The announcement means market participants now have a clear timetable that will allow them to transition to alternative reference rates with greater certainty. It also means the fallback spread adjustments are now fixed for all euro, sterling, Swiss franc, US dollar and yen LIBOR settings. This virtual press briefing explores what the announcement means for derivatives markets.
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