FCA and PRA publish statement on next steps in the transition from LIBOR to RFRs

The Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) have published a joint statement in which they set out observations from their work done to date on the preparation of firms for the transition from the London interbank offered rate (LIBOR) to risk-free rates (RFRs), including key themes, good practice, and next steps.

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