ARTICLE · 25 MARCH 2021

Market Intelligence Thought Leadership Award Winner

A Roadmap To The End Of LIBOR

ENS

Explore more from ENS

There are few certainties in life: death, taxes and the end of the London Interbank Offered Rate ("LIBOR") are at least three of those.

South AfricaFinance and Banking

Deborah Carmichael

Author LinkedIn connections

There are few certainties in life: death, taxes and the end of the London Interbank Offered Rate ("LIBOR") are at least three of those.

We've previously discussed the UK Financial Conduct Authority's ("FCA's") statement issued on 5 March 2021, which set hard dates for the end of LIBOR. In this statement, the FCA announced the future cessation and loss of representativeness of the LIBOR benchmarks after 31 December 2021.

However, This means that 31 December 2021 will be the last day on which:

all seven Euro LIBOR settings;
all seven Swiss Franc LIBOR settings;
overnight, one-week, two-month, and 12-month Sterling LIBOR settings;
spot next, one-week, two-month, and 12-month Japanese Yen LIBOR settings; and

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Related Articles

New Requirements For Certain Unlisted Companies To Qualify As A REITs

South AfricaFinance and Banking

Buying More Than Yield: The Regulatory Questions For African Banks Investing In Fintech Credit Funds

South AfricaFinance and Banking

FSCA Has No Power To Impose Penalties Jointly And Severally

South AfricaFinance and Banking

Keeping The Keys: What Bank-led Digital-asset Custody Means For South African Financial Institutions

South AfricaFinance and Banking

Tap, Play, Pay - Embedded Payments And The Disappearing Checkout

South AfricaFinance and Banking

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Finance and Banking
- Commodities/Derivatives/Stock Exchanges
- Financial Services

Related Comparative Guides

Comparative Guide

Acquisition Finance

Comparative Guide

Capital Markets

Comparative Guide

Securitisation

Comparative Guide

Alternative Investment Funds

See more popular content from

Finance and Banking

From Red Flag To Frozen Account - Banking Lessons On Account-freezing Powers And Anti-money Laundering

A South African court ruling examines when banks may lawfully freeze customer accounts based on suspected fraud and money laundering. The case explores the balance between contractual account terms, interbank information sharing, and statutory tax recovery powers when suspicious funds move rapidly through the banking system.

South AfricaFinance and Banking

Two Upgrades In 12 Months: South Africa’s Credit Rating Renaissance

South Africa has received sovereign credit rating upgrades from both Fitch and S&P Global in 2025-2026, marking the country's first upgrades in nearly 21 years.

South AfricaFinance and Banking

Third-party Payment Providers At A Regulatory Crossroads

South Africa's proposed payment-system reforms signal a fundamental shift for third-party payment providers, moving from a sponsor-based model to direct regulatory oversight by the South African Reserve Bank.

South AfricaFinance and Banking

How Does The Bond Registration Process Work In South Africa?

A mortgage bond is registered when an owner of immovable property uses the property as security to raise funds from a bank or other financial institution.

South AfricaFinance and Banking

The Clock Is Ticking: Preparing Issuers For The JIBAR To ZARONIA Transition

South Africa's benchmark interest rate is shifting from JIBAR to ZARONIA, with JIBAR set to cease on 31 December 2026. The JSE has introduced a structured process to help issuers transition their existing documentation, but legislative amendments won't take effect until early December 2026, creating a compressed timeline. Issuers must begin reviewing their legal documentation now to ensure compliance within the limited implementation period.

South AfricaFinance and Banking

FSCA Publishes New Conduct Standard For Collective Investment Scheme Managers

The Financial Sector Conduct Authority (FSCA) has published Conduct Standard 3 of 2025 (CIS), titled Requirements for Managers of Collective Investment Schemes (the Conduct Standard), together with a Statement of Need and Impact and a Consultation Report.

South AfricaFinance and Banking

Risk Under Review: What Guidance Note 7B Means For Accountable Institutions

South Africa's Financial Intelligence Centre has issued Guidance Note 7B, updating the risk-based approach under FICA with important clarifications on proliferation financing, new technology risks, and due diligence...

South AfricaFinance and Banking

Beyond Bank Sponsorship - A New Regulatory Path For South African Fintech

South Africa's Reserve Bank has proposed a new regulatory framework that could fundamentally reshape how fintech companies access the national payment system.

South AfricaFinance and Banking

Proposed New Rules On Beneficial Ownership For Financial Institutions

South Africa's financial regulators have published Draft Joint Standard 1 of 2026, introducing comprehensive requirements for identifying and vetting beneficial owners of financial institutions. Stemming from the country's 2023 FATF greylisting, this regulatory framework aims to prevent criminals from acquiring ownership or control of banks, insurers, and other regulated entities. How will these new fit-and-proper requirements, reporting obligations, and governance standards reshape beneficial ownership com

South AfricaFinance and Banking

Licensing Requirements For OTC Derivatives Providers Published (And Deadline Extended)

The Consultation Report published with the Conduct Standard helpfully clarifies a number of questions that were being asked in the market.

South AfricaFinance and Banking