Beyond Libor: what reform plans mean for swaps users
Big bang still an option in plans to propagate new benchmarks
Over the past 18 months, small groups of senior fixed-income bankers, regulators and other market participants have been meeting in Brussels, London, New York, Tokyo, Zurich and other financial centres in order to quietly plan a change to the foundations of the interest rate swap market.
The aim is to end the benchmark status of unsecured interbank lending rates (Ibors), such as Libor, in
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