Libor expert: don’t rely on forward RFR rates for transition

- By Lukas Becker
- @LukasBeckerRisk
- 29 May 2018

Forward-looking risk-free rates (RFRs) may not be ready before legacy instruments need to be weaned off Libor and so users should prepare to move to backward-looking benchmarks, according to the chair of an RFR working group.

Currency-specific working groups have so far selected RFRs based on overnight rates as alternatives to Libor. For swap contracts, these rates are generally based on a daily

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