6 Structural Issues Complicating Libor Transition

Law360 (October 22, 2020, 5:51 PM EDT) -- Libor was never perfect. Launched by the British Bankers' Association in 1984, the London Interbank Offered Rate became the official benchmark interest rate at which banks borrow from one another starting in 1986.

Since then, it has gone through many iterations and challenges. Most notably, of course, the benchmark was the subject of a major scandal in 2012, when it was revealed that Libor had been manipulated.

By 2017, British regulators had announced plans to phase out the benchmark by the end of 2021, starting the protracted Libor death march. Today, just over a year until Libor is supposed to be...

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