Pandemic threatens Libor transition plans
Resources diverted to Covid-19 response, as RFR-Libor basis spikes on stress
As the coronavirus pandemic lays waste to global stock markets, it may also threaten plans to rid the world of the Libor benchmarks.
Regulators want to transition to new risk-free rates before the end of 2021, when Libor contributors will be free to stop supporting the rate. Some industry sources now warn the timeline may need to be extended – partly because resources are being consumed by Covid-19, and partly because the industry is realising how little it knows about the behaviour of some
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