The scandal-hit London Inter-bank Offered Rate will be replaced by 2022.
Lawyers anticipate a rise in disputes as the lending rate benchmark is phased out.
January 17, 2020 at 07:06 AM
1 minute read
The original version of this story was published on Legal Week
The U.K.’s transition away from using Libor, the agreed interest rate at which banks lend to each other, is set to generate a flood of disputes, leading legal advisers believe.
Market regulator the Financial Conduct Authority released a set of documents outlining the transition plan on Thursday, with the scandal-ridden benchmark rate set to be phased out by the end of 2021.
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