“A very large amount of [over-the-counter] swaps have Libor as a reference rate. Replacing Libor across the universe of OTC derivatives would be a very large and very difficult task. Libor must continue to be published.”
“A very large amount of [over-the-counter] swaps have Libor as a reference rate. Replacing Libor across the universe of OTC derivatives would be a very large and very difficult task. Libor must continue to be published.”
–Stephen O’Connor, chairman of the International Swaps and Derivatives Association, rails against replacing Libor at the organization’s annual meeting in London.