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ARTICLE · 10 MARCH 2021

FCA Announces Future Cessation And Non-Representativeness Of Libor Benchmarks

Holland & Knight
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As widely expected, the United Kingdom's Financial Conduct Authority (FCA), the regulator for Libor (the London Interbank Offered Rate), has issued an announcement confirming that all...

United StatesFinance and Banking
Douglas Youngman
Douglas Youngman
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As widely expected, the United Kingdom's Financial Conduct Authority (FCA), the regulator for Libor (the London Interbank Offered Rate), has issued an announcement confirming that all 35 Libor benchmark settings currently published by the Intercontinental Exchange (ICE) Benchmark Administration (IBA), the authorized administrator for Libor, will either cease to be provided or will no longer be representative after certain specified dates. This Holland & Knight alert provides a brief summary of this recent development regarding the cessation of Libor benchmarks.

Permanent Cessation

In accordance with the FCA's announcement, the following 26 Libor settings will permanently cease as of the corresponding dates set forth below:

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