LIBOR settings

24 Jun: Forthcoming cessation of all LIBOR settings

(Source: European Securities and Markets Authority)

LIBOR, one of the most used benchmarks globally, will soon cease to be published.The European legislative framework regulating financial benchmarks (Regulation (EU)2016/1011 1 ) has been recently amended 2 granting the European Commission powers toaccompany the transition away from LIBOR in the European Union.

Nevertheless, significant reliance on any of the LIBOR settings at the time of theirdiscontinuation or loss of representativeness may have an impact on the functioning of theEuropean financial system.

In order to ensure a smooth transition away from LIBOR, market participants are encouragedto actively reduce their exposure to LIBOR and …