BoE’s post-Libor clearing plan leaves yen swaps in limbo

Sonia and €STR will be mandated for clearing, while Tonar must wait until liquidity settles

Yen-swaps-left-in-limbo-by-BoE-clearing-plan
Risk.net montage

Japanese yen swaps will be exempt from mandatory clearing in the UK from December 6 under new proposals from the Bank of England designed to cement the shift away from Libor rates.

The plans, which were released for consultation on May 20, would see most Libor swaps removed from the UK’s clearing obligation for over-the-counter derivatives on a staggered schedule ahead of the benchmark’s year-end cessation. The BoE expects to issue new clearing mandates for swaps referencing the replacement

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: