The time has come for John Williams to put away the LIBOR countdown clock.
The Federal Reserve Bank of New York's president for more than two years has been counting the days until Friday, when most versions of the London Interbank Offered Rate—with the notable exception of three-month U.S. dollar LIBOR—will be published for the last time. It's the beginning of the end of its decades-long reign as the pre-eminent tool of the financial system, more than a decade after bank manipulation was first alleged.
For regulators, it's celebration time. For U.S. traders, the outlook remains muddy, as the painful slog of integrating replacements for LIBOR goes on.
Continue Reading for Free
Register and gain access to:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
