The FCA has stated that the contribution banks have agreed to continue providing inputs until the end of 2021, but may not continue to do so. LIBOR exists only because a set of contributor banks agrees to contribute data on a daily basis. This is risky because, over the last decade, banks have been fined billions of dollars for exploiting or violating the benchmark submission process.
Key learning objectives:
What are the expectations of regulators by the end of 2021?
What are tough legacy contracts?
What is happening between now and the end of 2021 for the LIBOR equivalents in other currencies?
IBOR Transition Update and Legacy Contracts (Dec 20) I
John Ewan • 12:51