Lloyds leads the way in phasing Libor out of AT1s
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Lloyds leads the way in phasing Libor out of AT1s

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Lloyds Banking Group asked permission from investors this week to change the reset rates on two of its additional tier one (AT1) securities so they bear reference to Sonia. The move is likely to kick off a trend in sterling and in dollars, as market participants prepare for the death of Libor.

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