FCA stands firm on Libor transition deadline

fca
By Silas Brown
25 Mar 2020

After discussions with the Bank of England and the Sterling Risk-Free Reference Rates Working Group over the impact of Covid-19 on companies’ plans to transition from Libor, the UK’s Financial Conduct Authority said on Wednesday that the final deadline of the end of 2021 was immutable.

“The central assumption that firms cannot rely on Libor being published after the end of 2021 has not changed and should remain the target date for all firms to meet,” the FCA said on Wednesday morning, in a statement addressing the impact of coronavirus directly. “The transition from ...

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