The Financial Stability Board has released a progress report to the G20 on LIBOR transition, encouraging financial authorities to set global consistent milestones that will accelerate moves away from ...
During the London InterBank Offered Rate (LIBOR) transition, and post LIBOR’s end date of June 30, 2023, the goal for all should be that (1) the effective interest rates be generally economically ...
As if they didn’t have enough to deal with, banks are faced with a succession of serious challenges over the next two years as they face up to the reality of the end of Libor. Firstly, they must ...
LIBOR set interest rates for trillions of dollars in loans for over 30 years. Banks manipulated the rate because it relied on estimates rather than real transactions. A new system called SOFR replaced ...
The UK’s Financial Conduct Authority (FCA) today issued a reminder of the expected cessation of the remaining synthetic US dollar LIBOR settings in late September 2024. With three months to go until ...
A Bloomberg spokesperson said the discontinuation of BSBY, which lagged in the race to succeed the defunct Libor rate, was the result of the "limited" commercial opportunities. Bloomberg L.P. says ...
LONDON--(BUSINESS WIRE)-- Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, today announced that it has transitioned all open ...
WILMINGTON, Del., June 05, 2023 (GLOBE NEWSWIRE) -- Navient (Nasdaq: NAVI), a leader in technology-enabled education finance and business processing solutions, announced that it plans to transition ...
On October 1, 2024, the United Kingdom Financial Conduct Authority (UK FCA) phased out ‘Zombie’ LIBOR, as a transitional benchmark, with the move to alternative “risk-free” rates. To be addressed in ...
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