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ARTICLE · 17 MARCH 2021

Libor Transition Dates Set

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Following a series of announcements in recent days by benchmark providers, regulators and industry groups, key dates for the LIBOR transition have now been set.

United StatesFinance and Banking
Donna Parisi
Donna Parisi
Geoffrey Goldman
Geoffrey Goldman
Azam Aziz
Azam Aziz
Mark Chorazak
Mark Chorazak
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Introduction

Following a series of announcements in recent days by benchmark providers, regulators and industry groups, key dates for the LIBOR transition have now been set. As a result, for market participants that have adopted or will adopt industry-standard LIBOR fallback provisions, the timing for the transition to fallback rates is now clear, and the key spread adjustments that will apply upon the transition have now been fixed.

On March 5, 2021, following the completion of its earlier consultation,1 the ICE Benchmark Administration (IBA) announced that it will cease the publication of:

  1. all GBP, EUR, CHF and JPY LIBOR settings, and the one-week and two-month USD LIBOR settings immediately following the LIBOR publication on December 31, 2021; and

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