Financial Institutions Seem Unprepared For Libor Demise

By Kevin Trabaris (May 14, 2018, 1:23 PM EDT) -- Since the 1980s, U.S. debt markets have been increasingly reliant on the use of the London Interbank Offered Rate for setting short-term rates in U.S. dollar-denominated loans and related instruments. But in 2012, after a series of criminal and civil actions, it became evident that Libor would need to be replaced with a new index. Then came the announcement that Libor would be phased out by Dec. 31, 2021, which was no surprise. In a report published on March 5, 2018, the Alternative Reference Rates Committee of the New York Federal Reserve Bank estimated that the size of debt applying U.S. dollar Libor is around $200 trillion....

Law360 is on it, so you are, too.

A Law360 subscription puts you at the center of fast-moving legal issues, trends and developments so you can act with speed and confidence. Over 200 articles are published daily across more than 60 topics, industries, practice areas and jurisdictions.

A Law360 subscription includes features such as

  • Daily newsletters
  • Expert analysis
  • Mobile app
  • Advanced search
  • Judge information
  • Real-time alerts
  • 450K+ searchable archived articles

And more!

Experience Law360 today with a free 7-day trial.

Start Free Trial

Already a subscriber? Click here to login

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!