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ICE Benchmark Administration to Consult on Its Intention to Cease the Publication of One Week and Two Month USD LIBOR Settings at End-December 2021, and the Remaining USD LIBOR Settings at End-June 2023

LONDON–(BUSINESS WIRE[1])–Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of mortgage technology, data and listings services, announces that ICE Benchmark Administration Limited (IBA) will consult on its intention to cease the publication of the one week and two month USD LIBOR settings immediately following the LIBOR publication on December 31, 2021, and the...

FSB publishes global transition roadmap for LIBOR

Press enquiries: +41 61 280 8138 [email protected][1] Ref no: 40/2020 The Financial Stability Board (FSB) today published a global transition roadmap for LIBOR[2]. The roadmap sets out a timetable of actions for financial and non-financial sector firms to take in order to ensure a smooth LIBOR transition by end-2021. In July the FSB reaffirmed[3] that financial and non-financial sector firms across...

Best’s Commentary: LIBOR Transition Poses Operational and Legal Challenges for Insurers

OLDWICK, N.J.–(BUSINESS WIRE)–Oct 13, 2020– With less than a year and a half to go before the London Interbank Offered Rate (LIBOR) will no longer be available, several areas of concern remain, according to a new AM Best commentary. A review of AM Best-rated insurer debt, as detailed in a Best’s Commentary, titled, “LIBOR Transition Poses Operational and Legal Challenges...

Benchmark Regulation: Council adopts position on amendments addressing LIBOR cessation

Member states’ EU ambassadors today agreed the Council’s mandate for negotiations with the European Parliament on the proposed amendments to the regulation on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds (Benchmark Regulation). Financial benchmarks are indices by reference to which amounts payable under relevant financial instruments or financial contracts, or...