Libor transition provisions eyed

Category: ABS

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Despite the UK FCA's recent announcement that it plans to phase Libor out by 2021 (SCI 31 July), the move is far from an outright ban and the benchmark could live on past the deadline. However, without any agreement as yet about a successor rate, uncertainty prevails over how the estimated US$150trn bonds with exposure to Libor will be affected.

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