Fed’s Powell: Libor death is ‘big stability risk’

Speaking to Risk.net, Fed chair nominee flags Libor dangers for FRNs, loans and other products

Jerome Powell
Jerome Powell: "When Libor does cease, we need to have accomplished certain things"
Photo: Federal Reserve

The possible death of Libor presents a “big financial stability risk” if adequate back-ups are not put in place beforehand, Federal Reserve governor Jerome Powell has warned in an interview with Risk.net.

Banks that contribute to the family of Libor benchmarks have agreed to do so until the end of 2021, at which point the UK’s Financial Conduct Authority – which regulates Libor – will allow them to walk away. That arrangement was revealed by the FCA in July, injecting new urgency into global

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

If you already have an account, please sign in here.

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: