Fed and FCA see path to synthetic dollar Libor
Reprieve for popular dollar settings could buy time for UK-style tough legacy fix
Regulators in the US and UK are entertaining the possibility of emergency life support for assets that cannot switch away from US dollar Libor before publication of the doomed benchmark ends.
They are also not giving any guarantees.
“It is possible down the road that there could be dollar synthetic Libor; it’s also possible there could not be. No-one should assume that there will be,” said David Bowman, senior adviser at the Federal Reserve Board.
Edwin Schooling Latter, head of markets and
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