Finding our way to the new Ibors
Richard Heckinger highlights possible pitfalls on the road to new reference rates
The transition away from using the London Interbank Offered Rates (Libors) in their various forms of currencies and terms as an all-purpose set of marking prices (reference rates) is, without doubt, a big deal. The transition is necessary because after 2021, the present set of Libors will no longer be expected to be polled and published.
Consequently, a plethora of new marking prices and indexes (let’s call them Ibors, even though the new rates are not necessarily interbank offered rates) has
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