BoE asks regulatory authorities to consider regulatory barriers impacting transition from LIBOR

Industry News | 23/10/19

The Bank of England’s working group on risk-free rates (RFRs) has published letters to the European Commission, the Basel Committee on Banking Supervision, the Financial Conduct Authority (FCA), and the Prudential Regulation Authority (PRA) asking them to consider the regulatory barriers that impact on the transition from LIBOR. The letters request that concrete actions are taken where necessary to ensure a smooth transition with minimal risks to safety and soundness.