"This is the last remaining Libor panel and its end marks another critical milestone in the transition away from LIBOR," the FCA said in its "final messages" on the rate.
"Firms must continue to actively transition contracts that reference Libor to appropriate, robust reference rates, and we continue to expect firms to deliver demonstrable progress," the FCA said. The 1, 3 and 6-month dollar Libor rates only will be published in a "synthetic form" for legacy contracts from July 3 to end-September 2024.
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