Libor death notice could be served this year – FCA

Announcement may come soon after Isda’s fallback protocol takes effect in November

Edwin Schooling Latter, Financial Conduct Authority

Photo: FCA

A formal announcement about the timing and manner of Libor’s discontinuation could be made later this year, according to a senior regulator at the UK’s Financial Conduct Authority.

“We know that Libor will continue until end 2021, but announcements about the discontinuation from the end of 2021 of Libor settings could come as early as November or December this year,” said Edwin Schooling Latter, head of markets policy at the FCA. “Market participants need to be ready for that.”

Schooling