The market-led LIBOR reform remains one of the industry’s most important undertakings. Watch our LIBOR team, joined by strategic collaboration partners from Eversheds Sutherland and DXC Technology, discuss the LIBOR transition in these challenging times.
LIBOR turned out to be a disruptor to central bank remediation of COVID-19 impacts, as much as COVID-19-related operational and economic challenges have been a disruptor to LIBOR transition and other regulatory programmes.
While relief and deferrals were granted on several regulatory obligations and initiatives, LIBOR transition was considered essential for strengthening the global financial system. The Bank of England and FCA stressed early on that the central assumptions have not changed and firms cannot rely on LIBOR being published after the end of 2021, which should therefore remain the target date for all firms to meet.