Moody's hails Lloyds' Sonia deal as 'essential' for markets
Moody's has praised Lloyds Bank’s first sterling Sonia-linked covered bond for being an "essential" development that will help to create a market for similar deals and limit disruption from the move away from Libor.
The transaction on September 5 marked the start of the UK's transition away from Libor, that will be phased-out by the end of 2021.The Lloyds’ deal is credit positive “because market-led actions are essential for the development of liquid markets for Sonia-based instruments to avoid potential disruptions from ...
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: email@example.com