It was only a matter of time until the benchmark
was set to come to an end. But what could possibly replace this
much criticised rate? IFLR finds out
|What should replace Libor?
The summer of 2017 may go down in the memories of
bankers and lawyers the world over for many reasons. Brexit got
into full swing, implementing the steady stream of seemingly
endless EU regulations came to a head – we are
thinking about you, revised Markets in Financial Instruments
Directive – and it was the 10-year anniversary of what
got everyone into this whole mess: the global financial
But it was also the beginning of the end for the world's
most important number. At the end of July, the UK's financial
regulator, the Financial Conduct Authority (FCA), announced
that it would be scrapping the London Interbank Offered Rate,
or as it is more commonly known, Libor.