Strengthening LIBOR – confirmed implemention of recommendation number 6 of ‘The Wheatley Review’
On 14th December 2012 the BBA published the results of its public consultation, in which it set out the timescale for a phased discontinuation of certain LIBOR rates, in line with the sixth recommendation of the Wheatley Review.
Today the BBA is issuing a fuller statement which comprehensively details the responses received during the public consultation.
For the avoidance of doubt, we are confirming that these changes are now final. By the beginning of June the number of LIBOR rates which are published daily will be reduced from over 150 to 37.
The timetable for the changes will be as detailed in our Feedback Statement of 14th December 2012. A link to this document can be found here.
The full feedback statement can be viewed here.