FCA sees ‘no case for delay’ on Libor cessation ruling

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Libor’s regulator told market participants there will be no delay in decisions over the fate of 35 currency and tenor pairs, after a “landmark” day in which a consultation on proposed Libor cessation dates closed and new fallback language was inserted into more than $20 trillion-equivalent of non-cleared legacy derivatives.

“We see no case for delaying decisions or announcement beyond the time necessary to properly assess the consultation responses that have now been received,” said Edwin

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