ICE Finalize LIBOR Cessation Plan

  • As in compliance with the announcement made by FCA regarding the cessation of LIBOR settings after Dec. 31, 2021 and, for the Overnight and 1-, 3-, 6- and 12-Month USD LIBOR, after Jun. 30, 2023, ICE Benchmark Administration Limited (IBA) considered that it would be unable to publish LIBOR settings after those dates because of the unwillingness of banks to contribute relevant information after the cessation
  • FCA has communicated to IBA that it might require the publication of a ‘synthetic LIBOR’ basis of the 1, 3 and, 6 Month GBP and JPY LIBOR settings beyond aforementioned cessation dates, and will consider the case for such publication for 1-, 3- and 6-Month USD LIBOR settings