January 16, 2020

Next steps for LIBOR transition in 2020: the time to act is now

Next steps for LIBOR transition in 2020: the time to act is now

16 January 2020
The Bank of England (the Bank), Financial Conduct Authority (FCA) and the Working Group on Sterling Risk-Free Reference Rates (RFRWG) have published a set of documents today, outlining priorities and milestones for 2020 on LIBOR transition.

This is a critical year for LIBOR transition. As the Bank’s Financial Policy Committee (FPC) set out in December 2019, whilst good progress has been made, firms need to accelerate efforts to ensure they are prepared for LIBOR cessation by end-2021. 
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