IRS Proposed Regs Could Guide Tax Choices For Libor's End

By Steven Garden, Thomas Humphreys, Mark Leeds, Russell Nance and Brennan Young (October 22, 2019, 4:23 PM EDT) -- The London interbank offer rate was considered the most banal reference point in modern finance until 2012 when it was discovered that the rate was unreliable. And when $350 trillion of securities use the same index to determine payments, even the smallest tweak can (and did) result in extreme discontinuities in the financial markets....

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