UK Finance publishes guide on discontinuation of LIBOR

Industry News | 14/11/19

UK Finance has published a guide for its members’ business customers on the discontinuation of LIBOR, which is anticipated to occur at the end of 2021. The guidance contains messages for business customers covering topics such as why LIBOR is unsustainable, what the options are for its replacement, and how the transition away from LIBOR is being managed by the industry. The guide is intended for business customers holding LIBOR-linked financial products, including loans, to help them understand the implications of LIBOR discontinuation, what they should be doing and what they should expect to hear from their bank or lender in the coming months.