BoE is going to curb Libor collateral. But how much?

Threadneedle-Street — Threadneedle Street, home of the UK's central bank in the City of London

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The Bank of England (BoE) is planning to restrict the use of Libor-linked collateral in its sterling liquidity pools as a way to prod investors away from the fading rate. What is undecided is how trenchant the measure it finally takes will be.

The central bank is seeking comment on three possible approaches to protecting its balance sheet from Libor’s all-but-certain demise after the end of 2021. The toughest of the three, which some view as an effective ban on legacy Libor collateral, would

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