Planning for LIBOR Transition
The LIBOR interest benchmark is changing
Interbank Offered Rates (IBORs) are expected to be replaced by new Risk-Free Rates (RFRs) across the global financial markets. Based on statements by the FCA, the expectation is that the London Interbank Offered Rate (LIBOR) will no longer be a credible lending rate after the end of 2021. Work is also underway for the replacement of other global IBORs.
There is considerable work being done across the industry to develop new Risk-Free Rates. Given the complexity of changes to these critical benchmarks of the global financial system we want to share some information with you now about the anticipated transition.
12 Oct 2020
LIBOR Transition – your options explained
As part of our preparation for the expected cessation of the London Interbank Offered Rate (LIBOR) at the end of 2021, we’re launching loan products that reference replacement rates, called Risk-Free Reference Rates (RFRs), alongside existing alternatives to LIBOR-linked loan products.
Our latest booklet what the options are for your business – whether you are considering new loan products or are ready to start moving your existing facilities from LIBOR onto a new RFR.