The sterling, Japanese yen, Swiss franc and euro LIBOR panels are ceasing on 31 December 2021. The Financial Conduct Authority (FCA) recently confirmed that to avoid disruption to legacy contracts that reference the one-, three- and six-month sterling and Japanese yen LIBOR settings, it will require the LIBOR benchmark administrator to publish these settings under a “synthetic” methodology, based on term risk-free rates, for the duration of 2022. These 6 LIBOR settings will be available only for use in some legacy contracts, and are not for use in new business. The recent publications also include a consultation paper on the FCA’s proposed decision on which legacy contracts can use these synthetic LIBOR rates. Continue reading…
Support for environmental proposals has never been higher, and companies are feeling the pressure from stakeholders of all kinds: not only investors, but also customers…
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