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(Update for cessation of LIBOR.) |
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Historically, abbreviation for LIBOR. | |||
LIBOR ended in September 2024. | |||
:<span style="color:#4B0082">'''''The end of LIBOR'''''</span> | |||
:"Yesterday, 30 September 2024, the remaining synthetic LIBOR settings were published for the last time and LIBOR came to an end. All 35 LIBOR settings have now permanently ceased. | |||
:The transition away from LIBOR, once referenced in an estimated $400 trillion of financial contracts, has made financial markets safer, more stable and fit for modern use. UK regulators, their international counterparts and market participants have worked together over the past decade to move to risk-free rates (“RFRs”), based on robust data. | |||
:Synthetic LIBOR was a temporary bridge to give firms more time to move outstanding legacy LIBOR-linked contracts towards alternative RFRs, allowing for an orderly cessation." | |||
:''Press release - Bank of England - 1 October 2024.'' | |||
== See also == | == See also == | ||
* [[ | * [[Bank of England]] | ||
* [[Base rate]] | * [[Base rate]] | ||
* [[Basis risk]] | * [[Basis risk]] | ||
* [[Benchmark]] | * [[Benchmark]] | ||
* [[Cost-plus loan pricing]] | * [[Cost-plus loan pricing]] | ||
* [[EURIBOR]] | * [[EURIBOR]] | ||
* [[LIBOR]] | |||
* [[Official Bank Rate]] | * [[Official Bank Rate]] | ||
* [[Reference rate]] | * [[Reference rate]] | ||
==Other resource== | |||
*[https://www.bankofengland.co.uk/news/2024/october/the-end-of-libor The end of LIBOR - Press release - Bank of England - 1 October 2024] | |||
[[Category:Accounting,_tax_and_regulation]] | |||
[[Category:The_business_context]] | |||
[[Category:Accounting,_tax_and_regulation]] | |||
[[Category:The_business_context]] | |||
Latest revision as of 00:24, 3 October 2024
Historically, abbreviation for LIBOR.
LIBOR ended in September 2024.
- The end of LIBOR
- "Yesterday, 30 September 2024, the remaining synthetic LIBOR settings were published for the last time and LIBOR came to an end. All 35 LIBOR settings have now permanently ceased.
- The transition away from LIBOR, once referenced in an estimated $400 trillion of financial contracts, has made financial markets safer, more stable and fit for modern use. UK regulators, their international counterparts and market participants have worked together over the past decade to move to risk-free rates (“RFRs”), based on robust data.
- Synthetic LIBOR was a temporary bridge to give firms more time to move outstanding legacy LIBOR-linked contracts towards alternative RFRs, allowing for an orderly cessation."
- Press release - Bank of England - 1 October 2024.
See also
- Bank of England
- Base rate
- Basis risk
- Benchmark
- Cost-plus loan pricing
- EURIBOR
- LIBOR
- Official Bank Rate
- Reference rate
