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ARTICLE · 03 OCTOBER 2019

Preparing for a world without LIBOR: key considerations for loan market participants

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Regulators and industry bodies are urging financial market participants to prepare for when LIBOR will cease in 2021.

AustraliaFinance and Banking
Rommel Harding-Farrenberg
Rommel Harding-Farrenberg
Clare Corke
Clare Corke
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It has been two years since the Financial Conduct Authority (UK) (FCA) announced that the London Interbank Offered Rate (LIBOR) will cease in 2021.

As this deadline nears, and the FCA continues to stress the assumption that there will be no LIBOR publication after end-2021, regulators and industry bodies around the world are urging market participants to prepare for the transition with increasing intensity.

FCA's Chief Executive, Andrew Bailey, recently commented that firms delaying transition are making a mistake. The CEO of the Asia Pacific Loan Market Association (APLMA) has also stressed that "time is now of the essence" and that members need to be informed of the upcoming "seismic changes".

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