LIBOR Transition

Regulators have made clear firms need to end their reliance on LIBOR by end-2021. LIBOR is a benchmark rate which underpins hundreds of trillions 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. Click here Term SONIA Reference Rate Provider Presentations - October 2020 View presentations here

LATEST FROM UK FINANCE

  • MORTGAGE CUSTOMER LIBOR TRANSITION FAQS

    10/03/2021

    UK Finance with the support of TLT, has developed a ?Frequently Asked Questions? document for retail mortgage customers on LIBOR transition.

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  • HELP WITH THE LIBOR RATE CHANGE FOR SMEs

    26/02/2021

    To support the business community, UK Finance with ACT, CBI, ICAEW and LMA has created this simple introductory guide to help businesses understand what it means for them, what they can do, and where they can go for more information.

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  • A CRITICAL YEAR OF TRANSITION AHEAD - UK FINANCE?S DISCONTINUATION OF LIBOR GUIDE FOR BANKS AND LENDERS

    12/02/2021

    Daniel Cichocki, Director, LIBOR Transition, UK Finance, looks at a critical year of transition ahead with the discontinuation of LIBOR.

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  • DISCONTINUATION OF LIBOR - GUIDE FOR BANKS AND LENDERS

    12/02/2021

    This guide is intended as useful toolkit for members to support their engagement for the move away from LIBOR and to sign post to the relevant information to support preparations.

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EXTERNAL CONTENT

  • IBA LAUNCHES RFR INDEXES

    21/09/2021

    IBA launches ICE RFR Indexes for U.S. Dollar, Euro and Japanese Yen

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  • IOSCO STATEMENT ON CREDIT SENSITIVE RATES

    08/09/2021

    Statement from the International Organisation of Securities Commissions

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  • REFINITIV LAUNCHES USD IBOR CASH FALLBACKS PROTOTYPES

    11/08/2021

    Refinitiv launches prototype to facilitate industry transition from USD LIBOR

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REGULATORY CONTENT

  • CRITICAL BENCHMARKS (REFERENCES AND ADMINISTRATORS' LIABILITY) BILL

    08/09/2021

    Critical Benchmarks (References and Administrators' Liability) Bill introduced to the House of Lords

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  • RFR WORKING GROUP MONTHLY NEWSLETTER

    03/09/2021

    Monthly newsletter for August 2021

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  • US BILL FOR TOUGH LEGACY LIBOR CONTRACTS PROCESS ADVANCES

    30/07/2021

    The House Financial Services Committee voted to advance the Bill

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  • STATEMENT SUPPORTING CROSS-CURRENCY SWAP MARKET 'RFR FIRST' INIATIVE

    21/07/2021

    Regulator joint statement encouraging cross-currency swaps market switch to RFRs

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