Libor: want you back

Author: | Published: 24 Aug 2017

As we approach the 10-year anniversary of it all starting to go south in the global financial markets, UK regulators have decided that now is the time to replace the London Interbank Offered Rate, more commonly (and sometimes even affectionately) known as Libor.

But there was no sentimentality involved in the decision unveiled by Financial Conduct Authority (FCA) chief executive Andrew Bailey at a Bloomberg event in July. After a 33-year long whirl, euthanising it is the sensible option, he explained.

It's definitely nothing to do with the scandals that have engulfed its short life....