The LIBOR Transition: Is IT A Hard Goodbye?
INTRODUCTION The key benchmark rate underlying various financial contracts worth more than USD 240 trillion, is scheduled to be discontinued from 31 December 2021 for certain currencies and tenors, while complete cessation is scheduled after 30 June 2023. The London Inter-Bank Offered Rate (“LIBOR”) dates to 1960s and has been published daily since 1986. It …