What Libor Replacement Will Mean For Derivatives

Law360, New York (September 14, 2017, 12:47 PM EDT) -- Plans to end the long reign of the London Interbank Offered Rate, or Libor, as one of the world's most often-used interest rate benchmarks have recently been confirmed by several top financial regulators. On July 27, 2017, Andrew Bailey, chief executive of the U.K. Financial Conduct Authority, announced that Libor is to be transitioned to alternative rates during the next four years,[1] marking a sharp departure from the FCA’s prior recommendation to reform the benchmark.[2] Less than a week later, J. Christopher Giancarlo, chairman of the U.S....
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