Dechert on LIBOR – Officially the Beginning of the End

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On Friday, 5 March 2021, the Financial Conduct Authority (FCA) announced that all 35 LIBOR benchmark settings as currently published by ICE Benchmark Administration (IBA), the administrator of LIBOR, will either cease to be published or will lose representativeness on the time frames set out in the announcement; a landmark step signalling the beginning of the end for LIBOR.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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