Loans and derivatives still stuck on Libor, warns BoE

Bank of England BoE adobe stock 230x150
By Mike Turner
01 Oct 2019

The loan market still needs “much more work” in shifting away from Libor, as do its derivatives, the Bank of England warned on Monday.

Libor is expected to be discontinued after 2021, and while some floating rate markets have made progress in finding replacements — notably the sterling Sonia bond market and to a lesser extend the dollar Sofr market — the loan market is still pricing deals against Libor that are ...

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