USD 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.

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

External link

• Changes to LIBOR as of end-2021 - Financial Conduct Authority