Libor administrator prepares to cut number of rates
Action aimed at keeping Libor going after 2021, says head of Ice Benchmark Administration
The Libor administrator plans to cull certain settings of the beleaguered benchmark after 2021 to make it easier for panel banks to keep it alive when they are no longer obliged to. And if Libor survives, one option would be to quote it as a spread between a bank’s borrowing rate and the alternative risk-free rate.
The Ice Benchmark Administration, which assumed responsibility for calculating Libor in 2014, publishes 35 Libor rates – across five currencies and seven tenors – every day, based on
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