It is now official – the United Kingdom Financial Conduct Authority (UK FCA) recently confirmed that the use of US dollar LIBOR (London InterBank Offered Rate) will not be allowed in most new ...
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What was the LIBOR rate, and what happened to it?
LIBOR set interest rates for trillions of dollars in loans for over 30 years. Banks manipulated the rate because it relied on estimates rather than real transactions. A new system called SOFR replaced ...
On Friday, March 5, 2021, the United Kingdom’s Financial Conduct Authority (the “U.K. FCA”), the regulator of the London Interbank Offered Rate (LIBOR), announced the future cessation and loss of ...
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