In July 2017, FCA chief executive Andrew Bailey delivered a speech on the future of LIBOR noting that the sustainability of LIBOR is limited due to the lack of underlying transactions in unsecured wholesale markets on which the benchmarks are based. The FCA have agreed with banks to voluntarily sustain LIBOR until 2021 but beyond that the FCA will not compel banks to make LIBOR submissions meaning it is likely to cease to be available. Download our latest Housing Finance: News & Views to find out more:
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