LIBOR Transition

Regulators have made clear firms need to end their reliance on LIBOR by end-2021. LIBOR is a benchmark rate which underpins around $400 trillion of financial products for customers globally, including derivatives, bonds and loans. For some UK Finance members it could be a bigger challenge than Brexit.

We are committed to supporting members with this transition. We are leading the way on mortgages and commercial loans, and engaging with the wider industry on a range of products. We recognise that keeping our members informed on developments, challenges, and industry approaches will be critical in the transition process.

The Working Group for Sterling Risk Free Reference Rates

Find out more about the work the national industry Working Group is doing to facilitate the transition from LIBOR via the RFR Working Group’s webpage.

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Term SONIA Reference Rate Provider Presentations – October 2020

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The Working Group on Sterling Risk-Free Reference Rate’s priorities and roadmap – 2020/2021

Stay up to date on the RFR Working Group’s latest priorities and milestones.

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