Concern appears to be ebbing that the coronavirus pandemic could significantly delay the transition of dollar markets away from the beleaguered LIBOR benchmark.

The process for moving away from the London interbank offered rate (LIBOR) is on track to take place by around the end of 2021, according to a Barclays Plc survey. A previous poll by the bank had indicated concerns that the Covid-19 outbreak might derail the transition.

"Investors still continue to believe, for the most part, that a small delay beyond 2021 may be needed to see the transition through, but nearly 83 percent of our investors believe that market usage of LIBOR will stop by end-2021 or a short time thereafter," Barclays wrote in a report based off a survey of nearly 100 rates, credit, and money-market clients.

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