Term versions of RFRs will work – FCA official

fca-edwin-schooling-latter — Edwin Schooling-Latter, FCA

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It will be possible to create a term version of new overnight risk-free rates, while still complying with rules on the reliability of benchmarks, according to Edwin Schooling-Latter, head of markets policy at the UK’s Financial Conduct Authority (FCA).

“It’s absolutely possible. We don’t need to weaken the regulatory framework to make that happen,” he told attendees at an industry conference in London this morning.

The question arises because market participants are being pressed to move

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