FCA: ‘We can be Libor fallback trigger’

Amid fears of hedging mayhem, Schooling Latter says FCA verdict could be trigger for smoother rates switch

fca-edwin-schooling-latter
FCA is "clear on the consequent responsibilities we would have" if its verdicts were used as fallback triggers
Risk.net montage

The UK markets regulator today outlined the role it would play in the last days of Libor, in a speech that could help a shared form of legal protection emerge – and potentially avert hedging chaos.

Edwin Schooling Latter, director of markets and wholesale policy at the Financial Conduct Authority, said the FCA will determine whether the benchmark is still representative of underlying funding markets whenever a contributing bank exits – as they will be free to do from the end of 2021. A negative

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.

To continue reading...

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: