Antitrust fears cloud Isda protocol – and fallback spreads

Wait for DoJ assurances could delay Libor transition plans and further unsettle rates trading

Department-of-justice
Isda is seeking assurances from the US Department of Justice over future antitrust action
Drew Douglas

Concerns over competition law may delay the release of a hotly anticipated Libor fallback protocol for derivatives  – and in turn push back an announcement about the death of Libor.  

The protocol is a key element of the Libor transition plan. Last month, a senior UK regulator suggested announcements about Libor’s cessation could be made soon after it was adopted – news that immediately moved the market.

The International Swaps and Derivatives Association plans to publish the protocol and the

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