FCA Announces Decision on Synthetic USD LIBOR
The FCA has announced that it will compel LIBOR's administrator (ICE) to continue publishing 1-, 3- and 6-month USD LIBOR settings using an unrepresentative 'synthetic' methodology until September 2024.
Use of the synthetic LIBORs will be completely prohibited in new contracts and should only be allowed for legacy contracts.
For details click here.
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