Twin-track solution for ‘tough legacy’ Libor falls flat
Critics deplore lack of detail in UK taskforce's call for parallel legal fix and synthetic rate
A sketchy report on one of the big challenges in Libor transition has disappointed observers who were hoping for more detail.
The report recommends a belt-and-braces approach to rescuing derivatives, bonds and loans that will be left without a viable reference rate when Libor stops being published. Panel banks will be free to walk away from the benchmark from the end of 2021.
“There’s literally
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