Libor to SARON: Building an interest rate

Author: Rene Bosch, Lee Saladino, Homburger | Published: 5 Dec 2019

Zurich-based lawyers review Switzerland’s progress in the global shift away from Libor and other interbank offered rates, with a focus on bonds

Following the announcement of the UK Financial Conduct Authority (FCA) in July 2017 that it would no longer compel panel banks to provide quotes beyond 2021, and, consequently, that the publication of the London interbank offered rate (Libor) after 2021 cannot be guaranteed, various public authorities and public and private sector working groups tasked with identifying and developing alternative benchmarks for the existing key interbank offered rates (IBORs) have accelerated their efforts....