Banks saying farewell to LIBOR could lead to some uncomfortable judgements

[fa icon="calendar'] 12-Dec-2018 16:05:59 / by Robert Harris posted in Banking, LIBOR

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LIBOR, which stands for ‘London Interbank Offered Rate’ is a benchmark interest rate that is currently used across a wide range of financial contracts both on and off balance sheet. Currently contracts in excess $370 trillion are reliant on LIBOR benchmark rates. As things currently stand, the LIBOR rate that appears on pages of a Reuters (or other) screen could go blank on 1st January 2022.  

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