Originally published by Energy Legal Blog ®.
A few months ago, the head of the UK’s Financial Conduct Authority announced that it will stop requiring the reference banks to submit sterling quotes for LIBOR, the interbank lending rate, by the end of 2021. The acronym refers to the London-based unsecured wholesale market rates for jumbo deposits between major banks that are denominated in certain designated currencies. LIBOR is the most commonly used floating interest rate at which banks lend to each other, and is incorporated in several trillions of dollars of U.S.
Finance
Theano Manolopoulou
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