Rage against the dying of the Libor

The capital markets industry is only just beginning to assess its exposure to the phase-out of Libor, expected at the end of 2021, and there isn’t an ideal replacement benchmark. In fact, there might not be by the time banks stop being compelled to make Libor submissions by the UK’s Financial Conduct Authority.

  • By Graham Bippart, Owen Sanderson
  • 26 Feb 2018

In a poll taken live by panellists at the US securitization industry’s annual jamboree, SFIG Vegas 2018, some 58% of respondents said they were just beginning to study the impact for their business when Libor may disappear.

While it isn’t certain that banks will stop reporting Libor when ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 15,084 31 17.18
2 Bank of America Merrill Lynch (BAML) 9,637 29 10.97
3 Citi 8,093 21 9.22
4 Lloyds Bank 7,329 24 8.35
5 JP Morgan 6,580 10 7.49

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1 Citi 128,864.18 374 11.17%
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3 JPMorgan 101,325.97 295 8.78%
4 Wells Fargo Securities 91,373.90 263 7.92%
5 Credit Suisse 76,082.53 203 6.60%