Bank Of England Calls 'Last Orders' On Troubled Libor

Law360, London (June 5, 2019, 1:00 PM BST) -- The Bank of England warned lenders on Wednesday that it will intensify its scrutiny of their plans to move away from the troubled Libor benchmark, as a governor said the rate will be retired at the end of 2021.

The Bank of England's deputy governor has said it is "last orders” for the discredited Libor rate, which he said will be retired at the end of 2021 in favor of a new benchmark. (AP) David Ramsden, the central bank’s deputy governor, said "the time for last orders is now” for the discredited London Interbank Offered Rate, and added that banks should...

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