FCA Speech – ending reliance on LIBOR

Industry News | 21/02/19

The FCA has published a speech by Megan Butler, executive director of supervision-investment, wholesale and specialists, that she delivered to the Investment Association in London on 21 February 2019. Key takeaways from the speech were that; firms need to end their reliance on LIBOR by the end of 2021 and that the FCA have seen 15 sterling bond issues issues that have referenced compounded SONIA, with a total value of about £8.7 billion so far in 2019.