FCA director on next steps in transition from LIBOR

The Financial Conduct Authority (FCA)’s director of markets and wholesale policy, Edwin Schooling Latter, delivered a speech at the Risk.net LIBOR Summit on next steps in the transition from LIBOR. Mr Schooling Latter described how LIBOR could cease or fail the Benchmarks Regulation ‘representativeness’ test at the end of 2021, and how robust contractual fallback triggers can protect market participants from risks in that scenario.

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