FCA head urges against complacency on Ibor transition

Libor adobe stock 230x150 AS
By Ross Lancaster
19 Sep 2019

The deadline for derivatives and debt market participants to move their financial instruments from an Ibor reference rate to an alternative is approaching but there are still fears in the industries of complacency about the migration.

Speaking at the International Swaps and Derivatives Association’s annual Europe conference on Thursday, the Financial Conduct Authority’s head of markets policy, Rich Fox, praised the industry's adoption of Sonia derivatives, including in longer tenors. But he added that “progress has plateaued”.

In 2021, the FCA is due to ...

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