BoE mulls excluding collateral without Libor language

The Bank of England expects Libor-linked collateral to include fallback language in the event that Libor is no longer a viable benchmark, it said on Thursday, suggesting that it will no longer accept any deals without such language as collateral.

  • By Tom Brown
  • 27 Jun 2019
“We can already accept Sonia-linked collateral, subject to meeting appropriate eligibility requirements,” said Andrew Hauser, executive director for markets in a speech on Thursday. “An alternative would be to ensure Libor-linked collateral includes adequate fallback language specifying an alternative rate in the event that Libor ceases ...

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