ISDA finds split on Ibor pre-cessation
The International Swaps and Derivatives Association has flagged a lack of consensus among market participants on how to tackle pre-cessation issues for interbank offered rates, while calling on regulators to provide more clarity.
ISDA found that most market participants would generally not want to continue referencing a covered Ibor if a supervisor put out a statement saying that it was no longer representative of the underlying market.
But the consultation failed to provide full consensus on the matter.A significant minority, ...
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