The FCA, the Bank of England, and foreign authorities have now completed the final steps to phase out LIBOR, a trillion-pound interest rate benchmark used in a multitude of global financial transactions. Most sterling legacy contracts had been migrated on or before December 31st, 2021, led by both banking and finance industry’s efforts.
However, there remains a small number of contracts that could not be modified before the deadline.
Download the full insight to discover the necessary next steps firms should be taking seriously in order to be making post- transitional moves, quickly.