Big banks worry small lenders could derail Libor switch

As UK regulator reiterates 2021 warning, dealers say Covid-19 is forcing smaller lenders to divert resources

Pound

Smaller banks are being forced to put their Libor transition preparations on hold amid a coronavirus-induced resource crunch, larger dealers are warning – throwing into jeopardy regulators’ plans to have the whole market migrate to new risk-free reference rates from the end of next year.

While larger banks have dedicated transition teams, smaller firms are being forced to divert resources during ongoing market panics and a massive uptick in emergency lending – meaning they face a challenging

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 registration? Click here

This address will be used to create your account

Calibrating interest rate curves for a new era

Dmitry Pugachevsky, director of research at Quantifi, explores why building an accurate and robust interest rate curve has considerable implications for a broad range of financial operations – from setting benchmark rates to managing risk – and hinges on…

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