FCA proposes using CME’s term SOFR for synthetic US Libor

IBA agrees to use rival’s ARRC-endorsed benchmark to avoid bifurcating the market

FCA mulls legal powers for USD Libor holdouts

The UK’s Financial Conduct Authority will force the temporary publication of a ‘synthetic’ version of US dollar Libor to sweep in a tail of international tough legacy contracts, which would not be covered by a US legal fix.

Libor’s administrator, Ice Benchmark Administration, would be compelled to continue publishing the rate after June 2023 using an alternative methodology, comprising a term version of the secured overnight financing rate, or SOFR, plus credit adjustments devised by the

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 info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

If you already have an account, please sign in here.

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

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: