USD LIBOR: Difference between revisions
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imported>Doug Williamson (Create page. Sources: linked pages.) |
imported>Doug Williamson (Update for 2023 end date.) |
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''LIBOR''. | ''Benchmark interest rates - LIBOR''. | ||
USD LIBOR provides an indication of the average rate at which contributory panel banks in London could obtain wholesale, unsecured funding for a given period, denominated in USD. | USD LIBOR provides an indication of the average rate at which contributory panel banks in London could obtain wholesale, unsecured funding for a given period, denominated in USD. | ||
:<span style="color:#4B0082">'''''New use of USD LIBOR is banned'''''</span> | |||
:"The remaining 5 US dollar LIBOR settings will continue to be calculated using panel bank submissions until mid-2023. | |||
:However, new use of US dollar LIBOR is now banned, with limited exceptions. | |||
:The US dollar risk-free rate SOFR is already being widely used in new business. | |||
:Firms should now focus on converting their legacy US dollar LIBOR contracts by mid-2023." | |||
:''Changes to LIBOR as of end-2021 - Financial Conduct Authority.'' | |||
== See also == | == See also == | ||
* [[Benchmark]] | |||
* [[Financial Conduct Authority]] (FCA) | |||
* [[Legacy]] | |||
* [[LIBOR]] | * [[LIBOR]] | ||
* [[Panel]] | |||
* [[Panel bank]] | |||
* [[Risk-free rates]] | |||
* [[Setting]] | |||
* [[SOFR]] | |||
* [[United States]] | * [[United States]] | ||
* [[Unsecured]] | |||
* [[USD]] | * [[USD]] | ||
* [[Wholesale]] | |||
==External link== | |||
*[https://www.fca.org.uk/news/news-stories/changes-libor-as-of-end-2021 Changes to LIBOR as of end-2021 - Financial Conduct Authority] | |||
[[Category:Financial_products_and_markets]] | [[Category:Financial_products_and_markets]] | ||
Revision as of 15:56, 14 April 2022
Benchmark interest rates - LIBOR.
USD LIBOR provides an indication of the average rate at which contributory panel banks in London could obtain wholesale, unsecured funding for a given period, denominated in USD.
- New use of USD LIBOR is banned
- "The remaining 5 US dollar LIBOR settings will continue to be calculated using panel bank submissions until mid-2023.
- However, new use of US dollar LIBOR is now banned, with limited exceptions.
- The US dollar risk-free rate SOFR is already being widely used in new business.
- Firms should now focus on converting their legacy US dollar LIBOR contracts by mid-2023."
- Changes to LIBOR as of end-2021 - Financial Conduct Authority.
See also
- Benchmark
- Financial Conduct Authority (FCA)
- Legacy
- LIBOR
- Panel
- Panel bank
- Risk-free rates
- Setting
- SOFR
- United States
- Unsecured
- USD
- Wholesale
